Brevan Howard Capital Management LP Has $2.61 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Brevan Howard Capital Management LP cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 33.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,986 shares of the wireless technology company's stock after selling 8,356 shares during the quarter. Brevan Howard Capital Management LP's holdings in QUALCOMM were worth $2,609,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the fourth quarter worth about $26,000. Banque Transatlantique SA acquired a new position in shares of QUALCOMM in the 4th quarter worth approximately $26,000. CKW Financial Group bought a new stake in QUALCOMM during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM during the 4th quarter valued at $29,000. Finally, CoreFirst Bank & Trust acquired a new position in QUALCOMM in the fourth quarter worth $33,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research reports. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Mizuho lowered their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Loop Capital dropped their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Evercore ISI decreased their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. restated an "overweight" rating and issued a $185.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $192.58.

Insider Buying and Selling

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider now owns 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $139.77, for a total value of $465,853.41. Following the completion of the transaction, the chief financial officer now owns 53,112 shares of the company's stock, valued at $7,423,464.24. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,599 shares of company stock valued at $5,733,290. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Down 0.3 %

Shares of NASDAQ:QCOM opened at $139.44 on Tuesday. The company has a 50 day moving average price of $147.28 and a two-hundred day moving average price of $158.13. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market capitalization of $154.22 billion, a PE ratio of 14.90, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63.

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

QUALCOMM Increases Dividend

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

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.

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