Trexquant Investment LP Sells 98,637 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Trexquant Investment LP cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 36.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 173,959 shares of the wireless technology company’s stock after selling 98,637 shares during the quarter. Trexquant Investment LP’s holdings in QUALCOMM were worth $26,724,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TBH Global Asset Management LLC raised its stake in QUALCOMM by 0.9% during the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after acquiring an additional 63 shares in the last quarter. PDS Planning Inc lifted its stake in shares of QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock valued at $631,000 after buying an additional 64 shares in the last quarter. Toth Financial Advisory Corp boosted its position in shares of QUALCOMM by 3.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after buying an additional 65 shares during the last quarter. CFS Investment Advisory Services LLC grew its position in QUALCOMM by 1.1% in the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock worth $929,000 after purchasing an additional 65 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC raised its stake in shares of QUALCOMM by 15.8% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock worth $73,000 after purchasing an additional 65 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

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

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $153.61 on Tuesday. 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 $147.88 and a 52 week high of $230.63. The business’s 50 day moving average price is $163.94 and its 200 day moving average price is $163.74. The firm has a market cap of $169.89 billion, a P/E ratio of 16.41, a P/E/G ratio of 2.01 and a beta of 1.28.

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

QUALCOMM Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.21%. QUALCOMM’s dividend payout ratio is presently 36.32%.

Analysts Set New Price Targets

A number of research firms recently weighed in on QCOM. Melius Research assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Mizuho cut their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.32.

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.