Nemes Rush Group LLC Has $14.74 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Nemes Rush Group LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 95,929 shares of the wireless technology company’s stock after acquiring an additional 4,877 shares during the period. QUALCOMM accounts for about 1.8% of Nemes Rush Group LLC’s holdings, making the stock its 14th largest position. Nemes Rush Group LLC’s holdings in QUALCOMM were worth $14,737,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Tradewinds LLC. acquired a new stake in shares of QUALCOMM in the fourth quarter valued at about $366,000. Mosaic Financial Group LLC lifted its holdings in shares of QUALCOMM by 30.3% during the fourth quarter. Mosaic Financial Group LLC now owns 2,095 shares of the wireless technology company’s stock worth $322,000 after buying an additional 487 shares during the last quarter. HighPoint Advisor Group LLC boosted its position in shares of QUALCOMM by 17.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 37,904 shares of the wireless technology company’s stock valued at $5,823,000 after acquiring an additional 5,562 shares during the period. Franklin Resources Inc. grew its stake in shares of QUALCOMM by 10.4% in the fourth quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company’s stock worth $1,158,654,000 after acquiring an additional 709,644 shares during the last quarter. Finally, Seven Mile Advisory increased its position in QUALCOMM by 13.8% during the fourth quarter. Seven Mile Advisory now owns 2,801 shares of the wireless technology company’s stock worth $430,000 after acquiring an additional 339 shares during the period. 74.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on QCOM. Evercore ISI decreased their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Mizuho lowered their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Barclays cut their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Piper Sandler lowered their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

Insider Activity

In other news, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. The trade was a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock valued at $4,685,077 in the last 90 days. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Up 0.6 %

QCOM opened at $153.61 on Tuesday. QUALCOMM Incorporated has a 1-year low of $147.88 and a 1-year high of $230.63. The firm has a 50-day moving average price of $163.94 and a two-hundred day moving average price of $163.74. The stock has a market capitalization of $169.89 billion, a PE ratio of 16.41, a PEG ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data 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 return on equity of 39.51% and a net margin of 25.94%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM’s 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.