Trexquant Investment LP Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Trexquant Investment LP decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 36.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 173,959 shares of the wireless technology company's stock after selling 98,637 shares during the period. Trexquant Investment LP's holdings in QUALCOMM were worth $26,724,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM during the 4th quarter worth $26,000. CKW Financial Group bought a new position in QUALCOMM during the 4th quarter worth about $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM during the 4th quarter worth about $29,000. CoreFirst Bank & Trust purchased a new position in QUALCOMM during the 4th quarter valued at about $33,000. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $38,000. Institutional investors own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 20,762 shares of the company's stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred 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 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 quarter, insiders sold 27,968 shares of company stock valued at $4,685,077. Corporate insiders own 0.08% of the company's stock.

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QUALCOMM Stock Performance

QCOM traded down $0.56 during midday trading on Tuesday, hitting $153.05. 5,704,405 shares of the company were exchanged, compared to its average volume of 8,601,419. The company's 50 day simple moving average is $163.66 and its 200 day simple moving average is $163.64. The firm has a market capitalization of $169.27 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $147.88 and a 1-year high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

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 for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.22%. QUALCOMM's dividend payout ratio is presently 36.32%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Rosenblatt Securities reissued a "buy" rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Benchmark reaffirmed a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Melius initiated coverage on QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price target for the company. Barclays dropped their price objective on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Finally, Evercore ISI reduced their target price on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. One investment 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. According to data from MarketBeat, QUALCOMM has an average rating of "Moderate Buy" and an average 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.