Martingale Asset Management L P Decreases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Martingale Asset Management L P cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,156 shares of the wireless technology company’s stock after selling 1,423 shares during the quarter. Martingale Asset Management L P’s holdings in QUALCOMM were worth $22,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Norges Bank purchased a new stake in QUALCOMM during the 4th quarter valued at $2,721,882,000. Amundi boosted its holdings in shares of QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. Raymond James Financial Inc. bought a new stake in shares of QUALCOMM in the fourth quarter worth about $527,053,000. Geode Capital Management LLC increased its holdings in QUALCOMM by 7.9% during the 3rd 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 purchasing an additional 1,989,725 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of QUALCOMM by 10.4% in the 4th quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company’s stock worth $1,158,654,000 after buying an additional 709,644 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

QCOM has been the subject of a number of recent analyst reports. Evercore ISI decreased their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Mizuho cut their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Benchmark restated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction on Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the transaction, the chief financial officer now owns 57,728 shares in the company, valued at approximately $7,568,140.80. This trade represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,018 shares of company stock worth $4,955,613 in the last 90 days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Trading Down 3.9 %

Shares of QCOM stock opened at $124.66 on Wednesday. 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 Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The stock has a market capitalization of $137.87 billion, a P/E ratio of 13.32, a P/E/G ratio of 2.01 and a beta of 1.28. The firm’s 50 day moving average is $159.04 and its 200 day moving average is $162.17.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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%. Research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.73%. QUALCOMM’s payout ratio is presently 36.32%.

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.