Aigen Investment Management LP Takes $747,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Aigen Investment Management LP acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,863 shares of the wireless technology company's stock, valued at approximately $747,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of QUALCOMM by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 114,368,470 shares of the wireless technology company's stock valued at $17,568,141,000 after buying an additional 638,284 shares during the last quarter. Northern Trust Corp lifted its stake in shares of QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. Invesco Ltd. boosted its holdings in QUALCOMM by 2.2% in the first quarter. Invesco Ltd. now owns 9,846,093 shares of the wireless technology company's stock valued at $1,512,458,000 after acquiring an additional 215,900 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in QUALCOMM by 17.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock valued at $1,502,509,000 after purchasing an additional 1,424,106 shares during the period. Finally, Deutsche Bank AG raised its holdings in QUALCOMM by 11.2% during the 1st quarter. Deutsche Bank AG now owns 8,665,910 shares of the wireless technology company's stock worth $1,331,170,000 after purchasing an additional 875,412 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. This trade represents a 6.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the transaction, the insider owned 21,193 shares in the company, valued at approximately $3,102,655.20. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 424,099 shares of company stock worth $8,352,355. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on QCOM. Piper Sandler reduced their price objective on shares of QUALCOMM from $190.00 to $175.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Evercore ISI decreased their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Robert W. Baird dropped their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Rosenblatt Securities restated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, July 31st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $181.10.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $147.97 on Tuesday. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The stock has a market cap of $159.66 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23. The stock's fifty day simple moving average is $155.10 and its two-hundred day simple moving average is $153.89. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period last year, the firm earned $2.33 earnings per share. The firm's revenue was up 10.4% on a year-over-year basis. As a group, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.4%. QUALCOMM's dividend payout ratio is presently 34.33%.

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.

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.