Two Sigma Advisers LP Sells 3,077,100 Shares of QUALCOMM, Inc. (QCOM)
Two Sigma Advisers LP cut its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 91.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 291,687 shares of the wireless technology company’s stock after selling 3,077,100 shares during the period. Two Sigma Advisers LP’s holdings in QUALCOMM were worth $16,600,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Mathes Company Inc. boosted its position in QUALCOMM by 190.0% during the 4th quarter. Mathes Company Inc. now owns 8,700 shares of the wireless technology company’s stock worth $495,000 after buying an additional 5,700 shares during the period. Epstein & White Financial LLC lifted its position in shares of QUALCOMM by 34.4% in the 4th quarter. Epstein & White Financial LLC now owns 9,752 shares of the wireless technology company’s stock worth $555,000 after purchasing an additional 2,495 shares during the period. First American Bank lifted its position in shares of QUALCOMM by 4.5% in the 4th quarter. First American Bank now owns 27,282 shares of the wireless technology company’s stock worth $1,552,000 after purchasing an additional 1,166 shares during the period. Clear Harbor Asset Management LLC lifted its position in shares of QUALCOMM by 4.8% in the 4th quarter. Clear Harbor Asset Management LLC now owns 16,942 shares of the wireless technology company’s stock worth $964,000 after purchasing an additional 778 shares during the period. Finally, Ipswich Investment Management Co. Inc. lifted its position in shares of QUALCOMM by 7.9% in the 4th quarter. Ipswich Investment Management Co. Inc. now owns 5,125 shares of the wireless technology company’s stock worth $292,000 after purchasing an additional 375 shares during the period. Institutional investors and hedge funds own 83.69% of the company’s stock.
A number of research analysts have recently issued reports on QCOM shares. BMO Capital Markets restated a “market perform” rating on shares of QUALCOMM in a research report on Thursday, January 31st. Zacks Investment Research downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Cowen restated an “outperform” rating and issued a $70.00 price target (down previously from $73.00) on shares of QUALCOMM in a research report on Thursday, January 31st. ValuEngine upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Finally, Evercore ISI restated an “in-line” rating and issued a $60.00 price target (down previously from $68.00) on shares of QUALCOMM in a research report on Monday, January 14th. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $66.58.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.11. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.89 billion. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. QUALCOMM’s revenue for the quarter was down 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. Analysts forecast that QUALCOMM, Inc. will post 3.21 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, March 6th. This represents a $2.48 annualized dividend and a dividend yield of 4.36%. QUALCOMM’s dividend payout ratio is currently 77.74%.
In other news, EVP James H. Thompson sold 40,000 shares of QUALCOMM stock in a transaction on Monday, February 11th. The shares were sold at an average price of $50.75, for a total value of $2,030,000.00. Following the completion of the sale, the executive vice president now owns 62,301 shares in the company, valued at approximately $3,161,775.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.
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QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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