1,096,777 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Bought by Renaissance Technologies LLC

Renaissance Technologies LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,096,777 shares of the wireless technology company's stock, valued at approximately $218,456,000. Renaissance Technologies LLC owned about 0.10% of QUALCOMM at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Matrix Capital Management Company LP acquired a new position in QUALCOMM during the 1st quarter valued at about $1,171,516,000. Massachusetts Financial Services Co. MA increased its holdings in shares of QUALCOMM by 1,778.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company's stock valued at $641,221,000 after acquiring an additional 3,047,947 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company's stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares during the last quarter. Van ECK Associates Corp boosted its stake in QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company's stock worth $997,210,000 after purchasing an additional 1,519,781 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in QUALCOMM during the 1st quarter worth approximately $238,770,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded down $1.12 during midday trading on Monday, hitting $166.61. The stock had a trading volume of 6,492,953 shares, compared to its average volume of 9,193,021. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $185.94 billion, a PE ratio of 22.21, a P/E/G ratio of 1.81 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The stock has a 50 day simple moving average of $176.11 and a 200-day simple moving average of $182.05.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion for the quarter, compared to analysts' expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, sell-side analysts expect that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.04%. QUALCOMM's dividend payout ratio (DPR) is 45.70%.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares of the company's stock, valued at approximately $47,452,516.71. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares of the company's stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Rosenblatt Securities raised their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Robert W. Baird lifted their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 23rd. Wells Fargo & Company boosted their price target on QUALCOMM from $140.00 to $170.00 and gave the company an "underweight" rating in a research note on Thursday, August 1st. Cantor Fitzgerald restated a "neutral" rating and issued a $215.00 price objective on shares of QUALCOMM in a research note on Thursday, August 1st. Finally, Westpark Capital reiterated a "hold" rating on shares of QUALCOMM in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has an average rating of "Moderate Buy" and a consensus price target of $210.63.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.