Twinbeech Capital LP Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Twinbeech Capital LP decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 57.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,620 shares of the wireless technology company's stock after selling 2,187 shares during the quarter. Twinbeech Capital LP's holdings in QUALCOMM were worth $249,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in QCOM. Triglav Skladi D.O.O. bought a new position in shares of QUALCOMM during the fourth quarter valued at $6,349,000. Two Sigma Advisers LP grew its position in QUALCOMM by 27.1% in the 4th quarter. Two Sigma Advisers LP now owns 2,621,300 shares of the wireless technology company's stock worth $402,684,000 after purchasing an additional 559,400 shares during the period. Two Sigma Investments LP raised its stake in QUALCOMM by 10.0% during the 4th quarter. Two Sigma Investments LP now owns 1,567,873 shares of the wireless technology company's stock valued at $240,857,000 after buying an additional 142,749 shares during the last quarter. Tairen Capital Ltd purchased a new stake in QUALCOMM during the 4th quarter valued at $6,682,000. Finally, Texas Bank & Trust Co purchased a new position in shares of QUALCOMM in the 4th quarter worth $1,124,000. 74.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Evercore ISI lowered their price objective 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, May 2nd. TD Cowen cut their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Piper Sandler decreased their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Finally, Loop Capital cut their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $192.08.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider now directly owns 22,793 shares in the company, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $139.77, for a total transaction of $465,853.41. Following the completion of the sale, the chief financial officer now owns 53,112 shares of the company's stock, valued at approximately $7,423,464.24. This represents a 5.90% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,568 shares of company stock worth $1,818,305. 0.08% of the stock is currently owned by insiders.

QUALCOMM Trading Up 2.2%

NASDAQ QCOM traded up $3.25 during trading hours on Tuesday, hitting $148.63. 9,775,711 shares of the company were exchanged, compared to its average volume of 8,853,028. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average price of $145.20 and a 200 day moving average price of $155.99. The stock has a market cap of $163.20 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced 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. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.44 earnings per share. Analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.40%. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

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.