Renaissance Group LLC Sells 12,927 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Renaissance Group LLC cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 147,508 shares of the wireless technology company’s stock after selling 12,927 shares during the quarter. Renaissance Group LLC’s holdings in QUALCOMM were worth $22,660,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM during the 4th quarter worth $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter worth about $29,000. CoreFirst Bank & Trust purchased a new stake in QUALCOMM during the fourth quarter worth about $33,000. Finally, Synergy Asset Management LLC bought a new stake in QUALCOMM in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 1.8 %

QCOM opened at $129.72 on Tuesday. The stock has a market capitalization of $143.47 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 2.01 and a beta of 1.28. The firm has a 50 day moving average price of $160.91 and a 200-day moving average price of $162.74. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. 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 (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.62%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Evercore ISI dropped their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Melius assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Finally, Barclays reduced their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 1,781 shares of the firm’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the transaction, the chief financial officer now owns 57,997 shares of the company’s stock, valued at $7,661,403.70. This trade represents a 2.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,749 shares of company stock worth $4,920,347. Company insiders own 0.08% of the company’s stock.

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.