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

Jefferies Financial Group Inc. increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 134.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,076 shares of the wireless technology company's stock after purchasing an additional 9,806 shares during the period. Jefferies Financial Group Inc.'s holdings in QUALCOMM were worth $2,623,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Bernard Wealth Management Corp. bought a new position in shares of QUALCOMM in the fourth quarter worth $64,000. LM Advisors LLC grew its position in QUALCOMM by 16.4% in the fourth quarter. LM Advisors LLC now owns 12,453 shares of the wireless technology company's stock valued at $1,913,000 after acquiring an additional 1,751 shares during the last quarter. Heck Capital Advisors LLC bought a new position in QUALCOMM in the fourth quarter valued at about $360,000. Leigh Baldwin & CO. LLC bought a new position in QUALCOMM in the fourth quarter valued at about $311,000. Finally, Armis Advisers LLC bought a new position in QUALCOMM in the fourth quarter valued at about $339,000. Institutional investors own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares in the company, valued at $9,374,385.96. This trade represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold 425,068 shares of company stock worth $8,418,305 in the last quarter. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of recent analyst reports. Robert W. Baird decreased their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Susquehanna decreased their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. TD Cowen decreased their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Benchmark reduced their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $192.08.

QUALCOMM Stock Down 2.1%

NASDAQ QCOM traded down $3.12 on Friday, reaching $145.22. The company had a trading volume of 13,752,285 shares, compared to its average volume of 8,824,724. The stock has a market capitalization of $159.45 billion, a P/E ratio of 15.51, a P/E/G ratio of 2.01 and a beta of 1.29. The company's fifty day moving average is $144.60 and its 200 day moving average is $155.74. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.44 EPS. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is 36.25%.

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.