Quantbot Technologies LP Sells 3,597 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Quantbot Technologies LP cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 9.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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.

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

Insiders Place Their Bets

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This represents a 6.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on Monday, February 10th. The stock was 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 in the company, valued at approximately $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 sold 27,968 shares of company stock valued at $4,685,077 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

QCOM has been the topic of several research analyst reports. Evercore ISI lowered their price target on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research report on Thursday, February 6th. Susquehanna lowered their target price on QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a report on Wednesday, November 20th. Cantor Fitzgerald reissued a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, Melius started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 target price for the company. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $205.32.

QUALCOMM Stock Up 1.0 %

Shares of NASDAQ:QCOM traded up $1.53 during midday trading on Monday, hitting $158.11. 3,567,280 shares of the stock were exchanged, compared to its average volume of 8,238,349. 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 52-week low of $149.43 and a 52-week high of $230.63. The business's fifty day simple moving average is $164.68 and its two-hundred day simple moving average is $164.40. The company has a market capitalization of $174.87 billion, a PE ratio of 16.89, a P/E/G ratio of 2.01 and a beta of 1.28.

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

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. QUALCOMM's payout ratio is currently 36.32%.

QUALCOMM 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.