Two Sigma Investments LP Acquires 142,749 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Two Sigma Investments LP boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,567,873 shares of the wireless technology company’s stock after acquiring an additional 142,749 shares during the quarter. QUALCOMM comprises 0.5% of Two Sigma Investments LP’s portfolio, making the stock its 19th biggest holding. Two Sigma Investments LP’s holdings in QUALCOMM were worth $240,857,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of QCOM. Eagle Strategies LLC increased its stake in QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock worth $219,000 after buying an additional 59 shares during the period. Clark Capital Management Group Inc. grew its stake in QUALCOMM by 3.6% in the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock worth $264,000 after acquiring an additional 59 shares in the last quarter. TBH Global Asset Management LLC raised its stake in shares of QUALCOMM by 0.9% during the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after acquiring an additional 63 shares in the last quarter. PDS Planning Inc raised its stake in shares of QUALCOMM by 1.6% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock valued at $631,000 after acquiring an additional 64 shares in the last quarter. Finally, Toth Financial Advisory Corp boosted its holdings in shares of QUALCOMM by 3.1% in the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after purchasing an additional 65 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the sale, the chief financial officer now directly owns 59,778 shares in the company, valued at approximately $9,374,385.96. The trade was a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 744 shares of the company’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 completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74% decrease in their ownership of the stock. 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. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Down 0.1%

QCOM stock opened at $152.50 on Monday. The stock has a market capitalization of $167.45 billion, a PE ratio of 16.29, a price-to-earnings-growth 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. 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 firm has a 50 day moving average of $145.94 and a 200 day moving average of $156.80.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company posted $2.44 earnings per share. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently declared 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. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.33%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is currently 36.25%.

Analyst Ratings Changes

Several research analysts have commented on the company. Cantor Fitzgerald restated a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Rosenblatt Securities restated a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Robert W. Baird lowered their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Citigroup cut their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, Piper Sandler lowered their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $192.08.

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.