QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 91.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,060 shares of the wireless technology company's stock after selling 530,049 shares during the period. Renaissance Technologies LLC's holdings in QUALCOMM were worth $7,538,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of QUALCOMM by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after acquiring an additional 707,468 shares during the period. Geode Capital Management LLC raised its position in QUALCOMM by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after purchasing an additional 670,432 shares during the period. Norges Bank acquired a new position in QUALCOMM during the fourth quarter worth $2,721,882,000. Amundi boosted its position in shares of QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after buying an additional 3,905,918 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of QUALCOMM by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company's stock valued at $1,485,575,000 after buying an additional 193,236 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $2.60 during mid-day trading on Tuesday, reaching $138.74. 8,215,520 shares of the stock were exchanged, compared to its average volume of 8,874,387. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The company has a 50 day simple moving average of $151.75 and a 200-day simple moving average of $159.90. The stock has a market capitalization of $153.45 billion, a P/E ratio of 14.82, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.57%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is currently 36.32%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Benchmark restated a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. Barclays lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Evercore ISI decreased their price target on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. Finally, TD Cowen cut their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $201.21.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the sale, the chief financial officer now owns 63,115 shares of the company's stock, valued at $10,716,927. The trade was a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company's stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,666 shares of company stock worth $5,047,052 in the last quarter. Company insiders own 0.08% of the company's stock.

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.