Fred Alger Management LLC Grows Stock Position in QUALCOMM Incorporated $QCOM

Key Points

• Fred Alger Management LLC increased its stake in QUALCOMM by 5.1%, reaching a total of 62,481 shares valued at approximately $9.6 million.
• Institutional investors now hold 74.35% of QUALCOMM's stock, with notable purchases from firms like Nuveen LLC and GAMMA Investing LLC, the latter increasing its stake by over 20,700%.
• QUALCOMM recently announced a quarterly dividend of $0.89, representing an annualized yield of 2.2%, with the ex-dividend date set for September 4th.

Fred Alger Management LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,481 shares of the wireless technology company's stock after buying an additional 3,010 shares during the quarter. Fred Alger Management LLC's holdings in QUALCOMM were worth $9,598,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of QUALCOMM by 565.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock valued at $19,098,000 after acquiring an additional 105,631 shares during the period. PFG Advisors increased its holdings in shares of QUALCOMM by 8.0% in the 1st quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock valued at $663,000 after acquiring an additional 321 shares during the period. Teza Capital Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of QUALCOMM by 3.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock valued at $28,979,000 after acquiring an additional 6,017 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of QUALCOMM by 12.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company's stock valued at $203,904,000 after acquiring an additional 145,509 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Activity at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on 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 directly owned 21,193 shares of the company's stock, valued at $3,102,655.20. This represents a 7.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Patricia Y. Grech sold 236 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $158.36, for a total transaction of $37,372.96. Following the transaction, the chief accounting officer directly owned 677 shares in the company, valued at approximately $107,209.72. This trade represents a 25.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,626 shares of company stock valued at $1,948,054. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

QCOM traded down $1.58 during trading on Tuesday, hitting $158.66. The stock had a trading volume of 6,118,504 shares, compared to its average volume of 6,720,706. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $182.10. The firm has a market capitalization of $171.19 billion, a P/E ratio of 15.30, a PEG ratio of 2.33 and a beta of 1.21. The company's 50-day moving average price is $156.48 and its 200 day moving average price is $152.04.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results 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. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the prior year, the company posted $2.33 EPS. The business's revenue for the quarter was up 10.4% on a year-over-year basis. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid 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 2.2%. QUALCOMM's dividend payout ratio is 34.33%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Arete raised shares of QUALCOMM from a "neutral" rating to a "buy" rating and set a $200.00 target price on the stock in a report on Tuesday, August 26th. Piper Sandler cut their target price 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. Sanford C. Bernstein set a $185.00 price objective on shares of QUALCOMM and gave the company an "outperform" rating in a research note on Monday, July 28th. Arete Research set a $200.00 price objective on shares of QUALCOMM in a research note on Tuesday, August 26th. Finally, UBS Group boosted their price objective on shares of QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $182.82.

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.