Teza Capital Management LLC Buys Shares of 10,029 QUALCOMM Incorporated (NASDAQ:QCOM)

Teza Capital Management LLC acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,029 shares of the wireless technology company's stock, valued at approximately $1,541,000.

A number of other institutional investors have also recently made changes to their positions in QCOM. Tallon Kerry Patrick purchased a new position in QUALCOMM in the 4th quarter worth $207,000. Merit Financial Group LLC raised its stake in QUALCOMM by 40.4% in the 4th quarter. Merit Financial Group LLC now owns 22,889 shares of the wireless technology company's stock worth $3,516,000 after acquiring an additional 6,591 shares during the last quarter. Sax Wealth Advisors LLC raised its stake in QUALCOMM by 43.7% in the 4th quarter. Sax Wealth Advisors LLC now owns 1,776 shares of the wireless technology company's stock worth $273,000 after acquiring an additional 540 shares during the last quarter. Integrated Investment Consultants LLC purchased a new position in QUALCOMM in the 4th quarter worth $227,000. Finally, HB Wealth Management LLC raised its stake in shares of QUALCOMM by 17.3% during the 4th quarter. HB Wealth Management LLC now owns 31,426 shares of the wireless technology company's stock valued at $4,828,000 after buying an additional 4,626 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Piper Sandler reduced their price objective on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Benchmark reduced their price objective on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. Finally, Susquehanna reduced their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of "Hold" and an average price target of $192.08.

QUALCOMM Price Performance

QCOM stock traded down $1.99 during trading on Friday, hitting $145.38. The stock had a trading volume of 8,991,695 shares, compared to its average volume of 8,849,286. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The stock has a market capitalization of $159.63 billion, a P/E ratio of 15.53, a PEG ratio of 2.01 and a beta of 1.29. The company's 50-day moving average price is $145.46 and its two-hundred day moving average price is $156.29.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same period in the previous year, the firm posted $2.44 EPS. QUALCOMM's revenue was up 17.0% compared to the same quarter last year. As a group, research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business 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 is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's payout ratio is currently 36.25%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 57,728 shares in the company, valued at $7,568,140.80. The trade was a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following 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 disclosure for this sale can be found here. Insiders have sold a total of 12,568 shares of company stock worth $1,818,305 in the last ninety days. Insiders own 0.08% of the company's stock.

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.