Nemes Rush Group LLC Has $15.22 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Nemes Rush Group LLC increased its stake in QUALCOMM by 3.3% in Q1, holding a total of 99,074 shares valued at approximately $15.22 million, making it the 14th largest position in their portfolio.
• QUALCOMM reported Q2 earnings per share of $2.85, surpassing expectations of $2.82, with revenue of $10.98 billion, reflecting a 17% year-over-year increase.
• The company announced a quarterly dividend of $0.89 per share, which will be paid on September 25th, offering an annualized yield of 2.25% and a payout ratio of 36.25%.

Nemes Rush Group LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,074 shares of the wireless technology company's stock after purchasing an additional 3,145 shares during the period. QUALCOMM makes up about 1.9% of Nemes Rush Group LLC's investment portfolio, making the stock its 14th biggest position. Nemes Rush Group LLC's holdings in QUALCOMM were worth $15,219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in QUALCOMM by 20,700.4% in the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock valued at $501,192,000 after buying an additional 3,247,068 shares during the period. Northern Trust Corp lifted its holdings in QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after buying an additional 1,493,076 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in QUALCOMM by 17.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock valued at $1,502,509,000 after buying an additional 1,424,106 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in QUALCOMM in the fourth quarter valued at approximately $204,085,000. Finally, Capital Research Global Investors raised its holdings in QUALCOMM by 525.5% in the fourth quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company's stock worth $217,141,000 after purchasing an additional 1,187,531 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Trading Down 0.3%

QUALCOMM stock opened at $158.40 on Friday. The firm has a 50-day moving average of $154.60 and a 200-day moving average of $155.00. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.64. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The company has a market cap of $173.92 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 2.04 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the prior year, the business posted $2.44 EPS. The company's quarterly revenue was up 17.0% on a year-over-year basis. On average, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be issued a $0.89 dividend. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.25%. QUALCOMM's payout ratio is 36.25%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. Susquehanna cut their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Evercore ISI cut their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $184.86.

Insider Activity

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 424,099 shares of company stock valued at $8,310,735. 0.08% of the stock is owned by company insiders.

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.

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