Two Sigma Investments LP Acquires 142,749 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Two Sigma Investments LP lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,567,873 shares of the wireless technology company's stock after buying an additional 142,749 shares during the period. QUALCOMM comprises approximately 0.5% of Two Sigma Investments LP's holdings, making the stock its 19th largest holding. Two Sigma Investments LP owned approximately 0.14% of QUALCOMM worth $240,857,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth about $26,000. Banque Transatlantique SA acquired a new position in QUALCOMM during the fourth quarter valued at approximately $26,000. CKW Financial Group bought a new stake in QUALCOMM in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM during the 4th quarter worth approximately $29,000. Finally, CoreFirst Bank & Trust acquired a new stake in QUALCOMM during the 4th quarter worth approximately $33,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

QCOM has been the subject of several analyst reports. Citigroup dropped their price objective on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Piper Sandler reduced their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Susquehanna dropped their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Robert W. Baird reduced their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $192.08.

Insiders Place Their Bets

In other news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This represents a 6.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 744 shares of the company's 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 directly owns 461 shares of the company's stock, valued at $80,596.63. The trade was a 61.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,312 shares of company stock valued at $1,948,379. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Down 1.6%

Shares of QUALCOMM stock traded down $2.51 on Wednesday, reaching $151.31. 9,679,430 shares of the company were exchanged, compared to its average volume of 8,897,571. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The company has a market capitalization of $166.14 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 2.01 and a beta of 1.29. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average of $145.89 and a 200 day moving average of $156.67.

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. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same period last year, the firm posted $2.44 earnings per share. QUALCOMM's revenue was up 17.0% compared to the same quarter last year. On average, equities research 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. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.35%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. 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.