Worldquant Millennium Advisors LLC Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Worldquant Millennium Advisors LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 64.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 275,157 shares of the wireless technology company’s stock after selling 507,165 shares during the period. Worldquant Millennium Advisors LLC’s holdings in QUALCOMM were worth $42,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM during the 4th quarter worth about $26,000. Banque Transatlantique SA purchased a new stake in QUALCOMM during the 4th quarter worth about $26,000. CKW Financial Group purchased a new stake in QUALCOMM during the 4th quarter worth about $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM during the 4th quarter worth about $29,000. Finally, CoreFirst Bank & Trust purchased a new stake in QUALCOMM during the 4th quarter worth about $33,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 0.1%

QCOM opened at $153.82 on Wednesday. The business has a 50 day moving average price of $145.99 and a two-hundred day moving average price of $156.70. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market cap of $168.89 billion, a PE ratio of 16.43, a P/E/G ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.44 EPS. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.31%. QUALCOMM’s payout ratio is presently 36.25%.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now owns 59,778 shares in the company, valued at $9,374,385.96. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,312 shares of company stock worth $1,948,379. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Piper Sandler decreased their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Loop Capital reduced their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 1st. Citigroup reduced their target price on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Susquehanna reduced their target price on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a report on Thursday, May 1st. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Hold” and a consensus target price of $192.08.

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.