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

Magnetar Financial LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,437 shares of the wireless technology company’s stock, valued at approximately $374,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM during the fourth quarter worth $26,000. CKW Financial Group bought a new position in QUALCOMM during the fourth quarter worth $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM during the fourth quarter worth $29,000. Synergy Asset Management LLC bought a new position in QUALCOMM during the fourth quarter worth $38,000. Finally, Legacy Investment Solutions LLC bought a new position in QUALCOMM during the third quarter worth $39,000. 74.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Melius Research assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM 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 completion of the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 744 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. This represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock worth $4,685,077 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $156.82 on Friday. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a 50-day simple moving average of $164.51 and a 200 day simple moving average of $163.98. 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 price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted 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 return on equity of 39.51% and a net margin of 25.94%. On average, research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. QUALCOMM’s payout ratio is 36.32%.

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.