Voloridge Investment Management LLC Has $11.01 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Voloridge Investment Management LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 79.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,690 shares of the wireless technology company's stock after selling 271,091 shares during the period. Voloridge Investment Management LLC's holdings in QUALCOMM were worth $11,013,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of QCOM. Tallon Kerry Patrick purchased a new stake in QUALCOMM in the 4th quarter worth about $207,000. LaFleur & Godfrey LLC boosted its stake in shares of QUALCOMM by 10.6% during the 4th quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock worth $480,000 after acquiring an additional 300 shares in the last quarter. Brighton Jones LLC raised its position in shares of QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares during the period. RFG Advisory LLC lifted its position in QUALCOMM by 10.5% during the 4th quarter. RFG Advisory LLC now owns 22,553 shares of the wireless technology company's stock worth $3,465,000 after acquiring an additional 2,146 shares during the last quarter. Finally, LexAurum Advisors LLC lifted its position in shares of QUALCOMM by 6.7% during the 4th quarter. LexAurum Advisors LLC now owns 2,081 shares of the wireless technology company's stock worth $320,000 after purchasing an additional 130 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on QCOM shares. Susquehanna dropped their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. Robert W. Baird decreased their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Loop Capital reduced their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $192.08.

QUALCOMM Stock Performance

Shares of QCOM traded up $0.74 during mid-day trading on Thursday, reaching $148.34. The company's stock had a trading volume of 5,931,564 shares, compared to its average volume of 8,568,680. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The stock has a market cap of $162.88 billion, a P/E ratio of 15.85, a PEG ratio of 2.01 and a beta of 1.29. The business has a 50-day simple moving average of $144.83 and a two-hundred day simple moving average of $155.88. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $10.58 billion. During the same quarter last year, the company earned $2.44 earnings per share. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

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

Insiders Place Their Bets

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total transaction of $523,308.34. Following the sale, the chief financial officer now owns 59,778 shares in the company, valued at approximately $9,374,385.96. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 425,068 shares of company stock worth $8,418,305 over the last three months. 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.