Worldquant Millennium Advisors LLC Sells 507,165 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Worldquant Millennium Advisors LLC lessened its holdings 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 and Exchange Commission. The institutional investor owned 275,157 shares of the wireless technology company's stock after selling 507,165 shares during the period. Worldquant Millennium Advisors LLC's holdings in QUALCOMM were worth $42,270,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Waverly Advisors LLC grew its stake in shares of QUALCOMM by 42.2% in the 4th quarter. Waverly Advisors LLC now owns 37,487 shares of the wireless technology company's stock worth $5,759,000 after buying an additional 11,128 shares during the last quarter. Woodline Partners LP purchased a new stake in shares of QUALCOMM in the fourth quarter worth $7,234,000. Sovereign s Capital Management LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at $3,089,000. Sphera Management Technology Funds Ltd bought a new position in shares of QUALCOMM during the fourth quarter valued at $2,117,000. Finally, Spurstone Advisory Services LLC bought a new position in QUALCOMM in the 4th quarter worth about $47,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on QCOM shares. JPMorgan Chase & Co. restated an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. Rosenblatt Securities reissued a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Cantor Fitzgerald restated a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Susquehanna lowered their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Finally, Evercore ISI reduced their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of "Hold" and a consensus price target of $192.08.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $1.99 on Monday, hitting $145.38. 8,991,695 shares of the company's stock were exchanged, compared to its average volume of 8,849,286. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The company has a 50-day simple moving average of $145.46 and a 200-day simple moving average of $156.17. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock has a market capitalization of $159.63 billion, a PE ratio of 15.53, a PEG ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results 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 company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the previous year, the business earned $2.44 earnings per share. QUALCOMM's quarterly revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.45%. QUALCOMM's payout ratio is 36.25%.

Insider Buying and Selling

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 owns 24,393 shares of the company's stock, valued at $3,762,376.32. This represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $139.77, for a total value of $465,853.41. Following the sale, the chief financial officer now directly owns 53,112 shares in the company, valued at $7,423,464.24. This trade represents a 5.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,568 shares of company stock valued at $1,818,305. 0.08% of the stock is owned by corporate insiders.

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.