Graham Capital Management L.P. Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Graham Capital Management L.P. lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 74.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,173 shares of the wireless technology company’s stock after selling 20,568 shares during the quarter. Graham Capital Management L.P.’s holdings in QUALCOMM were worth $1,102,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. increased its position in QUALCOMM by 21.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after purchasing an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in QUALCOMM in the fourth quarter worth $2,058,000. Burney Co. increased its position in QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after purchasing an additional 127,722 shares during the last quarter. Howard Bailey Securities LLC bought a new stake in QUALCOMM in the fourth quarter worth $240,000. Finally, Greenup Street Wealth Management LLC bought a new stake in QUALCOMM in the fourth quarter worth $2,256,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 0.5%

QCOM stock opened at $151.34 on Wednesday. The firm has a 50 day moving average of $146.16 and a 200 day moving average of $157.25. The stock has a market capitalization of $166.17 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. 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 earned $2.44 EPS. QUALCOMM’s revenue for the quarter was up 17.0% on a year-over-year basis. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share 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 issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.35%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s payout ratio is 36.25%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of analyst reports. Loop Capital cut their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Benchmark cut their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Barclays cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM 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 given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $192.08.

Insider Activity

In other news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the transaction, the chief financial officer now directly owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. This trade represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,312 shares of company stock valued at $1,948,379 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

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.