Virtu Financial LLC Invests $1.32 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Virtu Financial LLC bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,609 shares of the wireless technology company's stock, valued at approximately $1,322,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM in the 4th quarter worth $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM in the fourth quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $29,000. Synergy Asset Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $38,000. Finally, Legacy Investment Solutions LLC acquired a new position in QUALCOMM in the 3rd quarter worth approximately $39,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the transaction, the chief financial officer now owns 63,115 shares of the company's stock, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value 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 represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock worth $4,685,077 over the last 90 days. Corporate insiders own 0.08% of the company's stock.

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QUALCOMM Trading Down 0.3 %

Shares of NASDAQ:QCOM traded down $0.42 during midday trading on Thursday, reaching $157.97. 6,094,444 shares of the company's stock were exchanged, compared to its average volume of 8,213,525. The firm's 50 day simple moving average is $164.47 and its two-hundred day simple moving average is $163.92. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a market cap of $174.71 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. QUALCOMM's dividend payout ratio is currently 36.32%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on QCOM. Piper Sandler decreased their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Melius assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 target price for the company. Evercore ISI decreased their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. Cantor Fitzgerald restated a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of "Moderate Buy" and a consensus 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.