Dark Forest Capital Management LP Sells 884 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Dark Forest Capital Management LP decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 25.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,540 shares of the wireless technology company’s stock after selling 884 shares during the period. Dark Forest Capital Management LP’s holdings in QUALCOMM were worth $390,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of QCOM. Te Ahumairangi Investment Management Ltd boosted its stake in QUALCOMM by 60.9% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 37,551 shares of the wireless technology company’s stock valued at $6,349,000 after purchasing an additional 14,213 shares during the last quarter. Anchor Investment Management LLC raised its position in QUALCOMM by 2.2% in the 3rd quarter. Anchor Investment Management LLC now owns 34,700 shares of the wireless technology company’s stock worth $5,901,000 after buying an additional 747 shares during the last quarter. World Investment Advisors LLC boosted its holdings in shares of QUALCOMM by 304.0% during the 3rd quarter. World Investment Advisors LLC now owns 45,166 shares of the wireless technology company’s stock valued at $7,680,000 after acquiring an additional 33,985 shares during the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of QUALCOMM by 620.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 55,668 shares of the wireless technology company’s stock worth $9,466,000 after acquiring an additional 47,945 shares during the period. Finally, Optimist Retirement Group LLC lifted its position in QUALCOMM by 4.1% during the third quarter. Optimist Retirement Group LLC now owns 13,579 shares of the wireless technology company’s stock valued at $2,309,000 after purchasing an additional 531 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $148.56 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The business has a 50 day simple moving average of $150.11 and a two-hundred day simple moving average of $159.37. The stock has a market capitalization of $164.31 billion, a PE ratio of 15.87, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted 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 net margin of 25.94% and a return on equity of 39.51%. On average, research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.40%. QUALCOMM’s dividend payout ratio (DPR) is presently 38.03%.

Insider Buying and Selling

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares of the company’s stock, valued at $3,762,376.32. The trade was a 6.16 % 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, CFO Akash J. Palkhiwala sold 648 shares of the stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $141.11, for a total transaction of $91,439.28. Following the completion of the sale, the chief financial officer now directly owns 56,445 shares in the company, valued at approximately $7,964,953.95. This represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,666 shares of company stock worth $5,047,052. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on QCOM. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Mizuho cut their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Barclays cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, QUALCOMM has a consensus rating of “Hold” and a consensus price target of $201.21.

QUALCOMM 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.