Two Sigma Advisers LP Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Two Sigma Advisers LP boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 202.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,061,900 shares of the wireless technology company's stock after acquiring an additional 1,380,500 shares during the quarter. QUALCOMM accounts for about 0.8% of Two Sigma Advisers LP's portfolio, making the stock its 28th largest position. Two Sigma Advisers LP owned 0.19% of QUALCOMM worth $350,626,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Lantz Financial LLC bought a new stake in shares of QUALCOMM in the 2nd quarter valued at $234,000. Sax Wealth Advisors LLC bought a new position in QUALCOMM during the second quarter worth $310,000. Wolff Wiese Magana LLC boosted its stake in QUALCOMM by 6.6% during the second quarter. Wolff Wiese Magana LLC now owns 16,191 shares of the wireless technology company's stock worth $3,225,000 after acquiring an additional 1,009 shares in the last quarter. Twelve Points Wealth Management LLC boosted its stake in QUALCOMM by 0.6% during the second quarter. Twelve Points Wealth Management LLC now owns 13,096 shares of the wireless technology company's stock worth $2,608,000 after acquiring an additional 80 shares in the last quarter. Finally, Atlas Private Wealth Advisors bought a new position in QUALCOMM during the second quarter worth $245,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Performance

NASDAQ QCOM traded down $1.29 during trading hours on Friday, reaching $159.10. 5,985,086 shares of the company were exchanged, compared to its average volume of 8,961,844. QUALCOMM Incorporated has a 1 year low of $130.39 and a 1 year high of $230.63. The business's 50 day simple moving average is $166.15 and its 200-day simple moving average is $179.89. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $176.76 billion, a P/E ratio of 17.77, a P/E/G ratio of 2.72 and a beta of 1.25.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.14%. QUALCOMM's dividend payout ratio (DPR) is presently 37.82%.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company's stock, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,450 shares of company stock worth $2,911,306. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on QCOM shares. Sanford C. Bernstein increased their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their target price on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Cantor Fitzgerald reissued a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. Susquehanna lowered their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a report on Wednesday, November 20th. Finally, StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $210.15.

About QUALCOMM

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.