QUALCOMM Incorporated (NASDAQ:QCOM) is Rafferty Asset Management LLC’s 10th Largest Position

Rafferty Asset Management LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,229,663 shares of the wireless technology company’s stock after selling 337,098 shares during the quarter. QUALCOMM makes up approximately 1.8% of Rafferty Asset Management LLC’s investment portfolio, making the stock its 10th largest position. Rafferty Asset Management LLC owned about 0.29% of QUALCOMM worth $496,141,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $26,000. Banque Transatlantique SA acquired a new position in QUALCOMM during the 4th quarter worth about $26,000. CKW Financial Group acquired a new position in QUALCOMM during the 4th quarter worth about $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM during the 4th quarter worth about $29,000. Finally, CoreFirst Bank & Trust acquired a new position in QUALCOMM during the 4th quarter worth about $33,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,337 shares of the business’s stock in a transaction on 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 directly owns 59,778 shares of the company’s stock, valued at $9,374,385.96. The trade was a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Neil Martin sold 744 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. This trade represents a 61.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,312 shares of company stock valued at $1,948,379. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

QCOM has been the topic of several research reports. JPMorgan Chase & Co. reissued an “overweight” rating and set a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. TD Cowen reduced their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Seaport Res Ptn raised QUALCOMM to a “hold” rating in a research report on Friday, May 9th. Barclays reduced their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $192.08.

QUALCOMM Stock Up 1.1%

QUALCOMM stock opened at $152.98 on Thursday. 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 company has a market cap of $167.97 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The stock’s 50 day moving average price is $146.00 and its 200 day moving average price is $157.22.

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

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.33%. QUALCOMM’s payout ratio is currently 36.25%.

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.