Magnetar Financial LLC Takes $374,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Magnetar Financial LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 2,437 shares of the wireless technology company's stock, valued at approximately $374,000.

Other hedge funds have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $26,000. CKW Financial Group acquired a new stake in QUALCOMM in the fourth quarter worth $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at about $29,000. Synergy Asset Management LLC bought a new position in shares of QUALCOMM during the 4th quarter worth about $38,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at about $39,000. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

QCOM has been the subject of several recent research reports. Cantor Fitzgerald restated a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Benchmark reaffirmed a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Mizuho decreased their price objective on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Finally, Melius started coverage on QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price target for the company. One investment 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. Based on data from MarketBeat, QUALCOMM currently has an average rating of "Moderate Buy" and a consensus price target of $205.32.

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Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now owns 24,393 shares of the company's stock, valued at $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,968 shares of company stock valued at $4,685,077. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

QCOM traded up $0.20 during trading on Tuesday, reaching $160.28. 1,921,016 shares of the company were exchanged, compared to its average volume of 8,227,772. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market cap of $177.27 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The company's 50-day moving average is $164.57 and its two-hundred day moving average is $163.95.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data 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 return on equity of 39.51% and a net margin of 25.94%. Research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

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.