Barrow Hanley Mewhinney & Strauss LLC Sells 90,179 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Barrow Hanley Mewhinney & Strauss LLC reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,844,497 shares of the wireless technology company’s stock after selling 90,179 shares during the quarter. QUALCOMM accounts for approximately 2.0% of Barrow Hanley Mewhinney & Strauss LLC’s holdings, making the stock its 10th biggest position. Barrow Hanley Mewhinney & Strauss LLC owned 0.35% of QUALCOMM worth $590,592,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Schroder Investment Management Group grew its holdings in shares of QUALCOMM by 9.5% during the 4th quarter. Schroder Investment Management Group now owns 1,668,206 shares of the wireless technology company’s stock worth $256,270,000 after purchasing an additional 144,658 shares in the last quarter. MV Capital Management Inc. boosted its stake in QUALCOMM by 1.3% during the fourth quarter. MV Capital Management Inc. now owns 18,813 shares of the wireless technology company’s stock worth $2,890,000 after buying an additional 243 shares in the last quarter. Allianz SE acquired a new position in shares of QUALCOMM in the 4th quarter valued at $10,620,000. Cambridge Financial Group Inc. bought a new position in shares of QUALCOMM during the 4th quarter worth about $6,292,000. Finally, Mechanics Financial Corp boosted its position in shares of QUALCOMM by 46.7% during the 4th quarter. Mechanics Financial Corp now owns 1,364 shares of the wireless technology company’s stock valued at $210,000 after acquiring an additional 434 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the transaction, the chief financial officer now directly owns 59,778 shares in the company, valued at $9,374,385.96. This represents a 5.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,968 shares of company stock valued at $4,685,077. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent research reports. Evercore ISI dropped their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Barclays decreased their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Melius Research began coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Finally, Benchmark reaffirmed a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Performance

QCOM opened at $152.72 on Friday. The firm has a market cap of $168.91 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The business’s fifty day moving average is $164.16 and its 200-day moving average is $163.84. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week 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 issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders 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 2.23%. QUALCOMM’s payout ratio is 36.32%.

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.