PDT Partners LLC Sells 15,895 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

PDT Partners LLC lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 92.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,305 shares of the wireless technology company's stock after selling 15,895 shares during the period. PDT Partners LLC's holdings in QUALCOMM were worth $200,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its position in QUALCOMM by 1.6% during the third quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company's stock valued at $1,213,023,000 after purchasing an additional 110,828 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in QUALCOMM in the third quarter valued at about $344,000. Principal Financial Group Inc. lifted its holdings in shares of QUALCOMM by 5.2% in the third quarter. Principal Financial Group Inc. now owns 1,415,090 shares of the wireless technology company's stock worth $240,636,000 after acquiring an additional 69,707 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of QUALCOMM by 56.2% in the 4th quarter. Versant Capital Management Inc now owns 1,713 shares of the wireless technology company's stock valued at $263,000 after purchasing an additional 616 shares in the last quarter. Finally, Modus Advisors LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $111,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Up 2.0 %

QUALCOMM stock traded up $2.76 during mid-day trading on Wednesday, reaching $142.66. 2,832,917 shares of the company traded hands, compared to its average volume of 8,854,308. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week 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 firm's 50 day moving average price is $146.99 and its 200 day moving average price is $158.00. The firm has a market capitalization of $156.64 billion, a price-to-earnings ratio of 15.22, a P/E/G ratio of 2.01 and a beta of 1.29.

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 (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business's revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.44 EPS. On average, analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share 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. 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 dividend on an annualized basis and a dividend yield of 2.50%. QUALCOMM's dividend payout ratio is 36.25%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on QCOM. Loop Capital lowered their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Robert W. Baird cut their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Piper Sandler decreased their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. TD Cowen lowered their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Finally, Citigroup decreased their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $192.58.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Monday, May 5th. The stock was 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 of the company's stock, valued at approximately $7,423,464.24. The trade was a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,599 shares of company stock worth $5,733,290. 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.