Stevens Capital Management LP Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Stevens Capital Management LP purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,584 shares of the wireless technology company's stock, valued at approximately $551,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. Amundi boosted its holdings in QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $527,053,000. Geode Capital Management LLC lifted its holdings 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. Two Sigma Advisers LP grew its position in QUALCOMM by 202.6% in the third 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 period. Finally, State Street Corp increased its stake in QUALCOMM by 1.7% during the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock worth $8,777,289,000 after acquiring an additional 870,814 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on QCOM. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Melius Research began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 target price for the company. Evercore ISI reduced their price target on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research note on Thursday, February 6th. Melius initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 price objective for the company. Finally, Mizuho cut their target price 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 given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $205.32.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded down $3.77 during trading on Friday, reaching $154.20. The company had a trading volume of 853,792 shares, compared to its average volume of 8,194,579. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. 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 stock's fifty day moving average price is $164.40 and its 200 day moving average price is $163.88. The firm has a market capitalization of $170.54 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts' consensus estimates 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, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were paid a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.20%. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock valued at $4,685,077 over the last quarter. Company insiders own 0.08% of the company's stock.

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.