Alyeska Investment Group L.P. Sells 65,473 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Alyeska Investment Group L.P. cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 24.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 205,142 shares of the wireless technology company's stock after selling 65,473 shares during the quarter. Alyeska Investment Group L.P.'s holdings in QUALCOMM were worth $31,514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in QCOM. Eagle Strategies LLC increased its stake in QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after purchasing an additional 59 shares during the period. TBH Global Asset Management LLC lifted its holdings in 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 worth $1,083,000 after buying an additional 63 shares during the period. PDS Planning Inc grew its stake in QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after purchasing an additional 64 shares during the last quarter. CFS Investment Advisory Services LLC raised its stake in shares of QUALCOMM by 1.1% during the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company's stock worth $929,000 after acquiring an additional 65 shares in the last quarter. Finally, Toth Financial Advisory Corp raised its stake in 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 buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Buying and Selling

In related 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 transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares of the company's stock, valued at $7,568,140.80. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,599 shares of company stock valued at $5,733,290 over the last 90 days. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

Shares of QCOM traded down $0.37 during midday trading on Monday, reaching $139.44. 7,116,612 shares of the stock were exchanged, compared to its average volume of 8,877,257. The stock's 50 day simple moving average is $147.28 and its 200 day simple moving average is $158.13. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The company has a market cap of $154.22 billion, a P/E ratio of 14.90, a PEG ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM's revenue was up 17.0% compared to the same quarter last year. During the same period last year, the firm posted $2.44 earnings per share. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.55%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Susquehanna decreased their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday. Citigroup reduced their price objective on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Loop Capital cut their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday. Mizuho reduced their price target on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Finally, Evercore ISI cut their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, QUALCOMM has an average rating of "Hold" and an average target price of $192.58.

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.