Gotham Asset Management LLC Cuts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Gotham Asset Management LLC lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 12.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,736 shares of the wireless technology company's stock after selling 33,677 shares during the quarter. QUALCOMM comprises 0.3% of Gotham Asset Management LLC's portfolio, making the stock its 17th biggest holding. Gotham Asset Management LLC's holdings in QUALCOMM were worth $35,292,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM in the 4th quarter worth approximately $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM during the 4th quarter valued at $26,000. CKW Financial Group purchased a new position in QUALCOMM during the 4th quarter valued at $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM during the 4th quarter valued at $29,000. Finally, CoreFirst Bank & Trust purchased a new position in QUALCOMM during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on QCOM shares. Evercore ISI dropped their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Loop Capital decreased their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. TD Cowen reduced their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Finally, Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research report on Friday. One investment 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $192.08.

Insiders Place Their Bets

In related news, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. The trade was a 48.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares in the company, valued at approximately $10,716,927. This trade represents a 4.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,599 shares of company stock valued at $5,733,290 in the last 90 days. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

NASDAQ QCOM traded up $0.20 during trading hours on Friday, reaching $145.30. The company's stock had a trading volume of 6,214,779 shares, compared to its average volume of 8,914,585. The firm has a market capitalization of $159.54 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company's 50-day moving average is $146.38 and its two-hundred day moving average is $157.41.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly 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. The company had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.44 EPS. On average, equities 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. Stockholders of record on Thursday, June 5th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is 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.