Bayesian Capital Management LP Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Bayesian Capital Management LP acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 38,961 shares of the wireless technology company's stock, valued at approximately $5,985,000. QUALCOMM comprises approximately 0.7% of Bayesian Capital Management LP's portfolio, making the stock its 15th biggest position.

Other large investors have also recently made changes to their positions in the company. Benjamin Edwards Inc. raised its position in QUALCOMM by 2.0% during the 4th quarter. Benjamin Edwards Inc. now owns 298,489 shares of the wireless technology company's stock valued at $45,870,000 after purchasing an additional 5,914 shares in the last quarter. Algert Global LLC increased its stake in shares of QUALCOMM by 8.9% during the fourth quarter. Algert Global LLC now owns 36,981 shares of the wireless technology company's stock valued at $5,681,000 after buying an additional 3,037 shares during the period. Alteri Wealth LLC purchased a new stake in QUALCOMM in the fourth quarter worth about $1,091,000. Aptus Capital Advisors LLC grew its holdings in QUALCOMM by 50.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 28,419 shares of the wireless technology company's stock worth $4,366,000 after acquiring an additional 9,570 shares in the last quarter. Finally, Arrowroot Family Office LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $211,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the sale, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. The trade was a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,266 shares of company stock worth $5,267,436 in the last three months. Company insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent research reports. Mizuho dropped their price objective 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. Loop Capital dropped their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday. Rosenblatt Securities reissued a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a research report on Thursday. Susquehanna dropped their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday. Finally, Barclays reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of "Hold" and an average price target of $192.58.

QUALCOMM Trading Up 3.4 %

Shares of QUALCOMM stock opened at $139.81 on Friday. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a market cap of $154.63 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The firm has a fifty day moving average price of $147.74 and a 200 day moving average price of $158.44.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion for 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 company's revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 earnings per share. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.55%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM's payout ratio is 36.25%.

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.

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