AlphaCore Capital LLC Has $7.96 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• AlphaCore Capital LLC increased its stake in QUALCOMM by 56.7%, owning 51,792 shares valued at approximately $7.96 million as of its latest SEC filing.
• QUALCOMM posted an earnings per share (EPS) of $2.77, surpassing analysts' consensus estimate and reporting a 10.4% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.89 per share, representing an annualized yield of 2.4%, with the payment scheduled for September 25th.

AlphaCore Capital LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 56.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,792 shares of the wireless technology company's stock after purchasing an additional 18,743 shares during the period. AlphaCore Capital LLC's holdings in QUALCOMM were worth $7,955,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of QCOM. Brighton Jones LLC raised its position in shares of QUALCOMM by 116.6% during the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after acquiring an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after purchasing an additional 340 shares during the period. F M Investments LLC increased its holdings in QUALCOMM by 40.9% in the fourth quarter. F M Investments LLC now owns 11,278 shares of the wireless technology company's stock valued at $1,733,000 after purchasing an additional 3,272 shares during the last quarter. Scotia Capital Inc. lifted its stake in QUALCOMM by 0.7% in the fourth quarter. Scotia Capital Inc. now owns 129,247 shares of the wireless technology company's stock valued at $19,855,000 after buying an additional 890 shares during the period. Finally, LSV Asset Management boosted its holdings in QUALCOMM by 15.1% during the fourth quarter. LSV Asset Management now owns 2,989,072 shares of the wireless technology company's stock worth $459,181,000 after buying an additional 392,802 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on QCOM. Sanford C. Bernstein set a $185.00 target price on QUALCOMM and gave the stock an "outperform" rating in a research report on Monday, July 28th. Benchmark decreased their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. boosted their target price on QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Piper Sandler lowered their price objective on shares of QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Finally, UBS Group increased their target price on QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $181.10.

QUALCOMM Stock Performance

Shares of QCOM opened at $145.90 on Friday. The company has a market cap of $157.43 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 2.13 and a beta of 1.23. The firm has a 50-day moving average of $155.03 and a 200-day moving average of $154.45. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38.

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

QUALCOMM Dividend Announcement

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

Insider Buying and Selling

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 424,099 shares of company stock valued at $8,352,355. 0.08% of the stock is owned by insiders.

QUALCOMM 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.

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