Symmetry Partners LLC Invests $253,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Symmetry Partners LLC acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, Holdings Channel.com reports. The firm acquired 1,649 shares of the wireless technology company’s stock, valued at approximately $253,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. State Street Corp increased its stake in shares of QUALCOMM by 1.7% in the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock worth $8,777,289,000 after acquiring an additional 870,814 shares during the period. Geode Capital Management LLC increased its stake in shares of QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after acquiring an additional 1,989,725 shares during the period. Amundi grew its position in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the period. Bank of New York Mellon Corp grew its position in QUALCOMM by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company’s stock valued at $1,485,575,000 after buying an additional 193,236 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in QUALCOMM by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after buying an additional 498,284 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock opened at $158.26 on Thursday. The company’s 50 day simple moving average is $164.54 and its 200-day simple moving average is $164.15. The company has a market capitalization of $175.04 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

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 net margin of 25.94% and a return on equity of 39.51%. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Analyst Upgrades and Downgrades

Several research firms recently commented on QCOM. Susquehanna dropped their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Barclays dropped their price target 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. Melius began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Finally, Mizuho dropped their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. One research 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 company. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Activity

In related news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. 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. 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.