New Age Alpha Advisors LLC Acquires New Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• New Age Alpha Advisors LLC acquired a stake in QUALCOMM, purchasing 25,480 shares valued at approximately $3.9 million during the first quarter.
• QUALCOMM's quarterly earnings report showed an EPS of $2.77, surpassing estimates and reflecting a 10.4% increase in revenue compared to the previous year.
• The firm declared a quarterly dividend of $0.89 per share to be paid on September 25th, representing an annualized yield of 2.4%.

New Age Alpha Advisors LLC purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 25,480 shares of the wireless technology company's stock, valued at approximately $3,914,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM during the 4th quarter worth $26,000. Atlantic Edge Private Wealth Management LLC raised its stake in QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after acquiring an additional 70 shares in the last quarter. WFA Asset Management Corp acquired a new stake in QUALCOMM during the 1st quarter worth $27,000. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM during the 4th quarter worth $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in QUALCOMM during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, 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 value of $234,240.00. Following the sale, the insider owned 21,193 shares of the company's stock, valued at $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $148.10, for a total transaction of $493,617.30. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock valued at $8,352,355 over the last quarter. Corporate insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

QCOM has been the topic of several research analyst reports. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Sunday. Mizuho cut their price target on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Susquehanna cut their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Finally, Bank of America dropped their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, June 17th. One 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 data from MarketBeat, QUALCOMM presently has an average rating of "Hold" and a consensus target price of $181.10.

QUALCOMM Price Performance

QCOM stock traded down $0.87 during trading on Wednesday, reaching $145.84. 8,450,254 shares of the company were exchanged, compared to its average volume of 8,473,886. The company has a market cap of $157.36 billion, a P/E ratio of 14.06, a PEG ratio of 2.14 and a beta of 1.23. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $182.10. The stock's 50 day moving average price is $155.11 and its 200 day moving average price is $154.64. 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 (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 EPS 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 the consensus estimate of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The firm's revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.33 earnings per share. As a group, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

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