Barrow Hanley Mewhinney & Strauss LLC Trims Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Barrow Hanley Mewhinney & Strauss LLC lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,844,497 shares of the wireless technology company’s stock after selling 90,179 shares during the period. QUALCOMM comprises 2.0% of Barrow Hanley Mewhinney & Strauss LLC’s holdings, making the stock its 10th largest holding. Barrow Hanley Mewhinney & Strauss LLC’s holdings in QUALCOMM were worth $590,592,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Nordea Investment Management AB increased its position in QUALCOMM by 39.7% during the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after purchasing an additional 523,244 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in QUALCOMM by 21.9% during 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 buying an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in QUALCOMM in the fourth quarter valued at $2,058,000. Burney Co. boosted its position in QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after acquiring an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC acquired a new stake in QUALCOMM during the 4th quarter worth about $240,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Down 3.3 %

Shares of QCOM stock opened at $152.72 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a market cap of $168.91 billion, a P/E ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28. The company has a 50 day moving average of $164.16 and a 200-day moving average of $163.84. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were paid a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. QUALCOMM’s dividend payout ratio is 36.32%.

Analysts Set New Price Targets

Several research firms recently commented on QCOM. Benchmark reaffirmed a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Barclays lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Piper Sandler reduced their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Melius Research initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Finally, Melius assumed coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned 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 $205.32.

Insider Buying and Selling at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock valued at $4,685,077 in the last 90 days. 0.08% of the stock is currently owned by company 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.