Nemes Rush Group LLC Buys 4,877 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Nemes Rush Group LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,929 shares of the wireless technology company's stock after purchasing an additional 4,877 shares during the period. QUALCOMM accounts for 1.8% of Nemes Rush Group LLC's holdings, making the stock its 14th biggest position. Nemes Rush Group LLC's holdings in QUALCOMM were worth $14,737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in QUALCOMM by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after acquiring an additional 707,468 shares during the last quarter. State Street Corp increased its stake in shares of QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock worth $8,777,289,000 after purchasing an additional 870,814 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares during the period. Norges Bank bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $2,721,882,000. Finally, Amundi lifted its stake in QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

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Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares of the company's stock, valued at $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

Shares of QCOM traded down $0.56 during midday trading on Tuesday, hitting $153.05. The company's stock had a trading volume of 5,704,405 shares, compared to its average volume of 8,601,419. 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 Incorporated has a one year low of $147.88 and a one year high of $230.63. The stock has a market capitalization of $169.27 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company's fifty day simple moving average is $163.66 and its two-hundred day simple moving average is $163.64.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results 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%. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.22%. QUALCOMM's dividend payout ratio is currently 36.32%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on QCOM shares. Piper Sandler dropped their price objective on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Barclays cut their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Benchmark reissued a "buy" rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Melius Research started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 target price for the company. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $205.32.

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.