QUALCOMM, Inc. (NASDAQ:QCOM) Shares Bought by Point72 Hong Kong Ltd
Point72 Hong Kong Ltd boosted its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 1,019.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,156 shares of the wireless technology company’s stock after acquiring an additional 2,874 shares during the quarter. Point72 Hong Kong Ltd’s holdings in QUALCOMM were worth $278,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Samalin Investment Counsel LLC purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $27,000. Peddock Capital Advisors LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at $30,000. Howard Wealth Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at $31,000. AlphaMark Advisors LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at $31,000. Finally, BerganKDV Wealth Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at $31,000. 77.13% of the stock is owned by institutional investors.
Shares of QCOM traded up $5.90 during midday trading on Thursday, reaching $68.98. The stock had a trading volume of 15,817,222 shares, compared to its average volume of 12,077,990. QUALCOMM, Inc. has a 1-year low of $55.78 and a 1-year high of $96.17. The company’s fifty day simple moving average is $79.56 and its two-hundred day simple moving average is $83.04. The company has a market cap of $74.82 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 0.94 and a beta of 1.46. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.76 and a quick ratio of 1.61.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 5th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Wednesday, March 4th. QUALCOMM’s dividend payout ratio (DPR) is 87.32%.
A number of equities analysts recently commented on QCOM shares. ValuEngine upgraded QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Canaccord Genuity reissued a “buy” rating and set a $96.00 price target (down previously from $115.00) on shares of QUALCOMM in a research report on Thursday, March 19th. UBS Group raised their price objective on shares of QUALCOMM from $87.00 to $91.00 and gave the company a “neutral” rating in a research note on Thursday, February 6th. Piper Sandler assumed coverage on shares of QUALCOMM in a report on Wednesday, March 4th. They issued a “neutral” rating and a $80.00 price objective for the company. Finally, BidaskClub downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Saturday, February 1st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. QUALCOMM presently has a consensus rating of “Buy” and a consensus target price of $91.33.
In other news, EVP Alexander H. Rogers sold 735 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $95.37, for a total transaction of $70,096.95. Following the completion of the sale, the executive vice president now owns 14,247 shares in the company, valued at approximately $1,358,736.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,590 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $94.00, for a total transaction of $337,460.00. Following the sale, the chief financial officer now owns 15,428 shares of the company’s stock, valued at approximately $1,450,232. The disclosure for this sale can be found here. Insiders have sold a total of 9,562 shares of company stock valued at $873,650 over the last ninety days. 0.12% of the stock is owned by company insiders.
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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