Sepio Capital LP Reduces Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Sepio Capital LP lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 10.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,478 shares of the wireless technology company's stock after selling 2,110 shares during the period. Sepio Capital LP's holdings in QUALCOMM were worth $2,685,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Insigneo Advisory Services LLC boosted its position in shares of QUALCOMM by 30.9% during the 3rd quarter. Insigneo Advisory Services LLC now owns 6,246 shares of the wireless technology company's stock worth $1,062,000 after acquiring an additional 1,476 shares in the last quarter. EP Wealth Advisors LLC increased its stake in shares of QUALCOMM by 10.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 97,961 shares of the wireless technology company's stock valued at $16,658,000 after purchasing an additional 9,562 shares during the last quarter. iA Global Asset Management Inc. raised its holdings in shares of QUALCOMM by 3.7% during the 3rd quarter. iA Global Asset Management Inc. now owns 170,013 shares of the wireless technology company's stock worth $28,911,000 after buying an additional 6,117 shares in the last quarter. Zacks Investment Management lifted its position in shares of QUALCOMM by 3.8% during the 3rd quarter. Zacks Investment Management now owns 592,257 shares of the wireless technology company's stock worth $100,713,000 after buying an additional 21,792 shares during the last quarter. Finally, World Investment Advisors LLC boosted its stake in QUALCOMM by 1,212.6% in the third quarter. World Investment Advisors LLC now owns 146,764 shares of the wireless technology company's stock valued at $24,957,000 after buying an additional 135,583 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on QCOM. Piper Sandler dropped their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Barclays decreased their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Mizuho lowered their target price on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $202.64.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 269 shares of the business's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the transaction, the chief financial officer now directly owns 57,728 shares in the company, valued at approximately $7,568,140.80. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now 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 position. The disclosure for this sale can be found here. Insiders sold a total of 30,018 shares of company stock valued at $4,955,613 over the last ninety days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Down 6.7 %

Shares of NASDAQ:QCOM traded down $9.61 during trading on Thursday, reaching $133.98. 5,671,276 shares of the stock were exchanged, compared to its average volume of 8,813,594. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The stock has a fifty day moving average of $157.89 and a two-hundred day moving average of $161.88. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm has a market cap of $148.18 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

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

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM's dividend payout ratio is currently 36.32%.

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.