Quantbot Technologies LP Has $5.39 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Quantbot Technologies LP decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,111 shares of the wireless technology company's stock after selling 3,597 shares during the period. Quantbot Technologies LP's holdings in QUALCOMM were worth $5,394,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM in the 4th quarter worth about $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth approximately $29,000. Planning Capital Management Corp grew its holdings in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock worth $34,000 after buying an additional 114 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new stake in QUALCOMM during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded up $4.64 during midday trading on Friday, hitting $156.58. The company's stock had a trading volume of 5,306,194 shares, compared to its average volume of 8,248,235. The stock's 50 day simple moving average is $164.68 and its 200 day simple moving average is $164.40. The stock has a market capitalization of $173.18 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63.

Remove Ads

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

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, March 6th. QUALCOMM's dividend payout ratio is presently 36.32%.

Insider Activity at QUALCOMM

In related news, 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 directly owns 59,778 shares of the company's stock, valued at $9,374,385.96. The trade was a 5.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,555 shares of company stock worth $5,094,134. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on QCOM. Piper Sandler decreased their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 price target for the company. Benchmark reiterated a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Susquehanna cut their target price on QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a research report on Wednesday, November 20th. Finally, Mizuho lowered their price target on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, QUALCOMM currently has a consensus rating of "Moderate Buy" and a consensus price target 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.