Worldquant Millennium Advisors LLC Has $42.27 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Worldquant Millennium Advisors LLC lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 64.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 275,157 shares of the wireless technology company's stock after selling 507,165 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in QUALCOMM were worth $42,270,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Waverly Advisors LLC lifted its position in shares of QUALCOMM by 42.2% during the fourth quarter. Waverly Advisors LLC now owns 37,487 shares of the wireless technology company's stock worth $5,759,000 after purchasing an additional 11,128 shares in the last quarter. Woodline Partners LP bought a new position in QUALCOMM in the 4th quarter worth approximately $7,234,000. Sovereign s Capital Management LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $3,089,000. Sphera Management Technology Funds Ltd bought a new stake in shares of QUALCOMM during the fourth quarter worth $2,117,000. Finally, Spurstone Advisory Services LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at $47,000. Institutional investors own 74.35% of the company's stock.

Insider Activity

In other 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 value of $220,384.00. Following the transaction, the insider now directly owns 22,793 shares of the company's stock, valued at $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 Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the transaction, the chief financial officer now directly owns 59,778 shares in the company, valued at $9,374,385.96. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,568 shares of company stock valued at $1,818,305. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on QCOM shares. Citigroup cut their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Benchmark lowered their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company reduced their price target on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Finally, Loop Capital cut their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. One research 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $192.08.

QUALCOMM Stock Down 1.4%

QCOM stock traded down $1.99 during midday trading on Friday, hitting $145.38. The company's stock had a trading volume of 8,991,695 shares, compared to its average volume of 8,869,129. 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 company's fifty day moving average price is $145.46 and its 200 day moving average price is $156.40. 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.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping 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 company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the prior year, the business posted $2.44 EPS. The company's quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. 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%. QUALCOMM's dividend payout ratio (DPR) 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.