Butensky & Cohen Financial Security Inc. Has $4.41 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Butensky & Cohen Financial Security Inc. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 28,713 shares of the wireless technology company’s stock after purchasing an additional 1,199 shares during the quarter. QUALCOMM accounts for approximately 1.4% of Butensky & Cohen Financial Security Inc.’s portfolio, making the stock its 29th biggest holding. Butensky & Cohen Financial Security Inc.’s holdings in QUALCOMM were worth $4,411,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of QCOM. State Street Corp lifted its holdings in QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after purchasing an additional 870,814 shares during the last quarter. Geode Capital Management LLC raised its position in shares of QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares during the period. Legal & General Group Plc lifted its stake in shares of QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after buying an additional 86,195 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of QUALCOMM by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock worth $1,421,037,000 after buying an additional 498,284 shares during the period. Finally, Van ECK Associates Corp grew its stake in QUALCOMM by 30.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after buying an additional 1,741,432 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 1.9 %

NASDAQ:QCOM opened at $164.56 on Friday. QUALCOMM Incorporated has a one year low of $139.26 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company has a market cap of $182.83 billion, a PE ratio of 18.30, a P/E/G ratio of 2.63 and a beta of 1.25. The firm’s 50 day simple moving average is $158.98 and its 200 day simple moving average is $169.28.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.07%. QUALCOMM’s payout ratio is presently 37.82%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on QCOM shares. Loop Capital initiated coverage on QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price on the stock. Wells Fargo & Company upped their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Sanford C. Bernstein lifted their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Barclays decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Susquehanna dropped their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the transaction, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by company insiders.

About QUALCOMM

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.