Jefferies Financial Group Inc. Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Jefferies Financial Group Inc. has increased its stake in QUALCOMM by 42.6%, holding a total of 24,351 shares worth approximately $3.74 million.
• Various institutional investors have made significant adjustments to their holdings, with GAMMA Investing LLC boosting its position by an impressive 20,700.4%, now owning over 3.26 million shares valued at around $501 million.
• QUALCOMM recently announced a quarterly dividend of $0.89 per share, reflecting an annualized yield of 2.4%, which will be paid to shareholders on September 25th.

Jefferies Financial Group Inc. boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 42.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,351 shares of the wireless technology company's stock after purchasing an additional 7,275 shares during the period. Jefferies Financial Group Inc.'s holdings in QUALCOMM were worth $3,741,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. WFA Asset Management Corp bought a new position in QUALCOMM during the first quarter worth about $27,000. Banque Transatlantique SA bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after acquiring an additional 70 shares during the period. Sunbeam Capital Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $30,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the transaction, the insider directly owned 21,193 shares of the company's stock, valued at $3,102,655.20. This trade represents a 7.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 424,099 shares of company stock valued at $8,352,355. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $0.85 during trading hours on Wednesday, hitting $145.86. 5,476,882 shares of the company were exchanged, compared to its average volume of 8,509,268. The firm has a fifty day simple moving average of $155.11 and a 200 day simple moving average of $154.64. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $182.10. The stock has a market capitalization of $157.38 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 2.15 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.71 by $0.06. The company had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. QUALCOMM's revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $2.33 EPS. Research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.4%. QUALCOMM's dividend payout ratio (DPR) is 34.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Sanford C. Bernstein set a $185.00 price target on shares of QUALCOMM and gave the company an "outperform" rating in a research report on Monday, July 28th. Citigroup restated a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. JPMorgan Chase & Co. boosted their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. UBS Group upped their price target on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Susquehanna lowered their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $181.10.

QUALCOMM Company 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.