Alliancebernstein L.P. Decreases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Alliancebernstein L.P. lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 22.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,200,031 shares of the wireless technology company's stock after selling 3,278,935 shares during the quarter. QUALCOMM accounts for about 0.6% of Alliancebernstein L.P.'s investment portfolio, making the stock its 25th largest position. Alliancebernstein L.P. owned 1.01% of QUALCOMM worth $1,720,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in QUALCOMM in the fourth quarter worth about $2,721,882,000. Amundi grew its holdings 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of QUALCOMM in the fourth quarter valued at about $527,053,000. Geode Capital Management LLC lifted its stake in QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock valued at $4,600,625,000 after acquiring an additional 1,989,725 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in shares of QUALCOMM by 202.6% during the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company's stock worth $350,626,000 after acquiring an additional 1,380,500 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

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QUALCOMM Stock Down 0.4 %

Shares of QUALCOMM stock traded down $0.56 on Tuesday, reaching $153.05. The company's stock had a trading volume of 5,704,405 shares, compared to its average volume of 8,593,789. 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 52 week low of $147.88 and a 52 week high of $230.63. The company has a market capitalization of $169.27 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 2.01 and a beta of 1.28. The firm's fifty day simple moving average is $163.94 and its two-hundred day simple moving average is $163.74.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.22%. QUALCOMM's dividend payout ratio (DPR) is 36.32%.

Insider Activity

In related news, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares of the company's stock, valued at approximately $9,374,385.96. This represents a 5.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock valued at $4,685,077 in the last ninety days. Corporate insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Barclays lowered their price objective on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Evercore ISI cut their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a report on Thursday, February 6th. Finally, Melius assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $205.32.

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.