Occudo Quantitative Strategies LP Invests $1.58 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Occudo Quantitative Strategies LP acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,257 shares of the wireless technology company's stock, valued at approximately $1,576,000.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after purchasing an additional 707,468 shares during the last quarter. Geode Capital Management LLC increased its position in shares of QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after purchasing an additional 670,432 shares during the last quarter. Norges Bank bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $2,721,882,000. Amundi increased its position in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares of the company's stock, valued at approximately $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. Insiders sold a total of 16,312 shares of company stock worth $2,457,779 over the last three months. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Susquehanna cut 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. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. JPMorgan Chase & Co. reissued an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. Finally, Wells Fargo & Company dropped 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. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of "Hold" and a consensus price target of $192.08.

QUALCOMM Trading Up 4.8%

QUALCOMM stock opened at $152.12 on Tuesday. The stock has a 50-day moving average of $146.26 and a two-hundred day moving average of $157.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The stock has a market cap of $167.03 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $10.58 billion. During the same period last year, the business posted $2.44 earnings per share. The firm's revenue was up 17.0% compared to the same quarter last year. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.34%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is presently 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.

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