Qualcomm Incorporated $QCOM Stock Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. increased its position in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 1,650.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 319,824 shares of the wireless technology company’s stock after purchasing an additional 301,554 shares during the period. Qualcomm accounts for 0.4% of Jefferies Financial Group Inc.’s investment portfolio, making the stock its 25th largest holding. Jefferies Financial Group Inc.’s holdings in Qualcomm were worth $58,860,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC lifted its stake in Qualcomm by 3.4% in the second quarter. JFS Wealth Advisors LLC now owns 1,595 shares of the wireless technology company’s stock valued at $295,000 after acquiring an additional 53 shares during the last quarter. Canopy Partners LLC grew its position in shares of Qualcomm by 1.4% in the 3rd quarter. Canopy Partners LLC now owns 4,148 shares of the wireless technology company’s stock valued at $763,000 after acquiring an additional 56 shares during the period. Wall Street Financial Group Inc. grew its position in shares of Qualcomm by 1.9% in the 2nd quarter. Wall Street Financial Group Inc. now owns 3,050 shares of the wireless technology company’s stock valued at $564,000 after acquiring an additional 57 shares during the period. Sunbeam Capital Management LLC grew its position in shares of Qualcomm by 3.7% in the 2nd quarter. Sunbeam Capital Management LLC now owns 1,637 shares of the wireless technology company’s stock valued at $303,000 after acquiring an additional 58 shares during the period. Finally, LaFleur & Godfrey LLC increased its stake in shares of Qualcomm by 3.6% during the 3rd quarter. LaFleur & Godfrey LLC now owns 1,656 shares of the wireless technology company’s stock worth $305,000 after purchasing an additional 58 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Qualcomm

In related news, EVP Ann Chaplin sold 1,501 shares of the company’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $161.54, for a total value of $242,471.54. Following the transaction, the executive vice president owned 27,271 shares in the company, valued at approximately $4,405,357.34. This represents a 5.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano Amon sold 10,000 shares of the stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $200.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief executive officer directly owned 177,568 shares in the company, valued at approximately $35,513,600. This represents a 5.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,520 shares of company stock worth $6,101,411 in the last ninety days. Insiders own 0.05% of the company’s stock.

Key Headlines Impacting Qualcomm

These are some of the QCOM headlines that stood out recently:

• Neutral Sentiment: Qualcomm is pursuing AI data-center opportunities that could represent as much as $50 billion in market potential. Bank of America acknowledged the ambitions but maintained an “underperform” rating, reflecting uncertainty about the company’s ability to turn the opportunity into results. Article
• Negative Sentiment: Freedom Broker downgraded QCOM from Buy to Hold and cut its price target to $185 from $200, citing expectations that investment in new growth businesses will pressure margins for longer than expected. Article
• Negative Sentiment: Qualcomm’s handset business remains a concern as it shrinks, leaving investors to assess whether automotive and other newer businesses can offset pressure in the company’s core market. Article

Qualcomm Trading Up 1.8%

QCOM stock opened at $176.57 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.86 and a quick ratio of 1.14. The company has a fifty day moving average price of $178.51 and a two-hundred day moving average price of $169.78. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $259.92. The stock has a market cap of $188.93 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 1.92 and a beta of 1.70.

Qualcomm (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 4th. The wireless technology company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.16 by $0.01. The firm had revenue of $10.44 billion for the quarter, compared to the consensus estimate of $10.12 billion. Qualcomm had a net margin of 31.60% and a return on equity of 30.62%. The company’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.00 earnings per share. Equities analysts anticipate that Qualcomm Incorporated will post 7.15 EPS for the current year.

Qualcomm Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.1%. Qualcomm’s payout ratio is presently 28.98%.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Qualcomm from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday. Freedom Broker cut Qualcomm from a “buy” rating to a “hold” rating and reduced their price target for the stock from $200.00 to $185.00 in a report on Monday. Robert W. Baird set a $320.00 price target on Qualcomm in a research report on Thursday, November 5th. Benchmark lowered their price target on Qualcomm from $300.00 to $270.00 and set a “buy” rating on the stock in a research report on Monday, July 27th. Finally, UBS Group dropped their price objective on Qualcomm from $185.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, November 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty-one have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $197.13.

Qualcomm Profile

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications. Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.