American Alpha Advisors LLC Invests $407,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• American Alpha Advisors LLC acquired a new stake in QUALCOMM, purchasing 2,652 shares valued at approximately $407,000 during the first quarter.
• Wall Street analysts have mostly given QUALCOMM a hold rating, with a consensus price target of $181.10, following various adjustments to their forecasts.
• QUALCOMM reported strong quarterly results with $2.77 EPS and a 10.4% year-over-year revenue increase, alongside announcing a quarterly dividend payment of $0.89 per share.

American Alpha Advisors LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,652 shares of the wireless technology company's stock, valued at approximately $407,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its stake in shares of QUALCOMM by 116.6% during the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC increased its position 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 valued at $391,000 after acquiring an additional 340 shares in the last quarter. F M Investments LLC boosted 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 worth $1,733,000 after purchasing an additional 3,272 shares during the last quarter. NFP Retirement Inc. boosted its holdings in QUALCOMM by 14.5% in the fourth quarter. NFP Retirement Inc. now owns 1,868 shares of the wireless technology company's stock worth $287,000 after purchasing an additional 236 shares during the last quarter. Finally, Petros Family Wealth LLC purchased a new stake in QUALCOMM in the fourth quarter worth approximately $491,000. 74.35% of the stock is owned by institutional investors.

Insider Transactions at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $148.10, for a total transaction of $493,617.30. Following the sale, the chief financial officer directly owned 43,207 shares in the company, valued at $6,398,956.70. This trade represents a 7.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock worth $8,352,355 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Robert W. Baird lowered their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Bank of America reduced their price target on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. Piper Sandler reduced their price target on shares of QUALCOMM from $190.00 to $175.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Finally, Sanford C. Bernstein set a $185.00 price target on shares of QUALCOMM and gave the company an "outperform" rating in a report on Monday, July 28th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of "Hold" and a consensus target price of $181.10.

QUALCOMM Stock Performance

QUALCOMM stock traded up $1.66 during mid-day trading on Friday, reaching $147.56. 5,026,408 shares of the company traded hands, compared to its average volume of 8,698,109. The company has a market capitalization of $159.22 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $182.10. The firm's fifty day moving average is $155.07 and its two-hundred day moving average is $154.06. 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 released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. The firm had revenue of $10.37 billion for the quarter, compared to analyst estimates 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 business earned $2.33 earnings per share. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

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

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.