Virtu Financial LLC Makes New $1.32 Million Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Virtu Financial LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, Holdings Channel reports. The fund acquired 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 made changes to their positions in the business. Sciencast Management LP lifted its holdings in shares of QUALCOMM by 19.1% during the 4th quarter. Sciencast Management LP now owns 19,798 shares of the wireless technology company’s stock worth $3,041,000 after acquiring an additional 3,181 shares during the period. Millstone Evans Group LLC bought a new position in shares of QUALCOMM during the 4th quarter worth about $207,000. Summit Global Investments lifted its holdings in QUALCOMM by 104.5% during the 4th quarter. Summit Global Investments now owns 98,722 shares of the wireless technology company’s stock valued at $15,166,000 after purchasing an additional 50,443 shares during the last quarter. Mindset Wealth Management LLC lifted its holdings in QUALCOMM by 4.9% during the 4th quarter. Mindset Wealth Management LLC now owns 3,672 shares of the wireless technology company’s stock valued at $564,000 after purchasing an additional 170 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in QUALCOMM during the 4th quarter valued at about $376,000. 74.35% of the stock is owned by institutional investors.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the stock in a transaction on 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 owns 461 shares of the company’s stock, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of several analyst reports. Evercore ISI cut their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Barclays cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Mizuho cut their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Finally, StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. One 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Down 0.7 %

Shares of NASDAQ:QCOM opened at $156.82 on Monday. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market capitalization of $173.44 billion, a PE ratio of 16.75, a PEG ratio of 2.01 and a beta of 1.28. The company has a 50 day moving average price of $164.51 and a two-hundred day moving average price of $163.97.

QUALCOMM (NASDAQ:QCOM) 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 net margin of 25.94% and a return on equity of 39.51%. Analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business 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. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is 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.