Wedge Capital Management L L P NC Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Wedge Capital Management L L P NC decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 99.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,164 shares of the wireless technology company’s stock after selling 352,225 shares during the period. Wedge Capital Management L L P NC’s holdings in QUALCOMM were worth $332,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in QCOM. Public Sector Pension Investment Board lifted its holdings in QUALCOMM by 75.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 43,177 shares of the wireless technology company’s stock worth $8,600,000 after purchasing an additional 18,577 shares in the last quarter. Magnetar Financial LLC purchased a new stake in QUALCOMM in the 2nd quarter worth approximately $2,983,000. Interval Partners LP grew its position in shares of QUALCOMM by 12,590.0% during the 2nd quarter. Interval Partners LP now owns 10,152 shares of the wireless technology company’s stock valued at $2,022,000 after purchasing an additional 10,072 shares in the last quarter. Westwood Wealth Management increased its holdings in shares of QUALCOMM by 22.6% in the second quarter. Westwood Wealth Management now owns 2,708 shares of the wireless technology company’s stock worth $539,000 after purchasing an additional 500 shares during the period. Finally, Semmax Financial Advisors Inc. bought a new stake in QUALCOMM during the second quarter valued at $1,338,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Up 1.6 %

NASDAQ:QCOM opened at $167.27 on Wednesday. QUALCOMM Incorporated has a one year low of $139.26 and a one year high of $230.63. The company’s 50-day simple moving average is $158.78 and its 200 day simple moving average is $168.29. The firm has a market capitalization of $185.84 billion, a P/E ratio of 18.61, a PEG ratio of 2.75 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, analysts forecast that QUALCOMM Incorporated will post 9.12 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares in the company, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock worth $4,314,649 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on QCOM. Melius initiated coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Benchmark reissued a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. Mizuho lowered their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Susquehanna cut their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Finally, Sanford C. Bernstein lifted their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

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.