Alpha Family Trust Buys 2,575 Shares of QUALCOMM Incorporated $QCOM

Key Points

• Alpha Family Trust increased its stake in QUALCOMM Incorporated by 58.9% in the first quarter, now holding 6,950 shares valued at approximately $1,068,000.
• A number of analysts have issued varying ratings on QUALCOMM, with a consensus rating of "Hold" and a price target averaging $181.10.
• QUALCOMM recently announced a quarterly dividend of $0.89 per share, with an ex-dividend date on September 4th, representing an annualized dividend yield of 2.3%.

Alpha Family Trust boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 58.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,950 shares of the wireless technology company's stock after acquiring an additional 2,575 shares during the quarter. QUALCOMM accounts for 0.6% of Alpha Family Trust's portfolio, making the stock its 29th largest position. Alpha Family Trust's holdings in QUALCOMM were worth $1,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Eagle Strategies LLC increased its position in QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after acquiring an additional 59 shares in the last quarter. Clark Capital Management Group Inc. lifted its holdings in QUALCOMM by 3.6% during the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after acquiring an additional 59 shares in the last quarter. Westwood Holdings Group Inc. grew its position in shares of QUALCOMM by 2.1% in the 4th quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company's stock valued at $509,000 after purchasing an additional 69 shares during the period. Collaborative Wealth Managment Inc. boosted its holdings in shares of QUALCOMM by 5.1% in the first quarter. Collaborative Wealth Managment Inc. now owns 1,412 shares of the wireless technology company's stock valued at $217,000 after buying an additional 69 shares during the period. Finally, Thoroughbred Financial Services LLC grew its holdings in shares of QUALCOMM by 0.3% during the first quarter. Thoroughbred Financial Services LLC now owns 25,254 shares of the wireless technology company's stock worth $3,879,000 after buying an additional 69 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Citigroup restated a "hold" rating on shares of QUALCOMM in a research note on Thursday, July 17th. Wells Fargo & Company reduced their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Susquehanna cut their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Finally, Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $181.10.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $148.10, for a total transaction of $493,617.30. Following the transaction, the chief financial officer directly owned 43,207 shares of the company's stock, valued at $6,398,956.70. This represents a 7.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the transaction, the insider owned 21,193 shares in the company, valued at $3,102,655.20. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock valued at $8,352,355 in the last quarter. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Trading Down 0.2%

NASDAQ:QCOM opened at $157.85 on Monday. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.10. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The firm's fifty day moving average is $155.73 and its 200-day moving average is $153.48. The firm has a market cap of $170.32 billion, a P/E ratio of 15.22, a P/E/G ratio of 2.30 and a beta of 1.23.

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

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.3%. QUALCOMM's dividend payout ratio (DPR) is 34.33%.

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.

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