QUALCOMM Incorporated $QCOM Shares Purchased by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in QUALCOMM by 17.4% in Q1, now holding 43,408 shares valued at approximately $6.67 million.
• QUALCOMM's latest earnings report showed an earnings per share (EPS) of $2.77, beating the consensus estimate by 6 cents.
• Several analysts have recently revised their price targets for QUALCOMM, with Benchmark lowering its target from $240 to $200, while the overall consensus rating remains a "Hold".

Algert Global LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 17.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,408 shares of the wireless technology company's stock after buying an additional 6,427 shares during the quarter. Algert Global LLC's holdings in QUALCOMM were worth $6,668,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC purchased a new stake in QUALCOMM in the first quarter valued at approximately $529,713,000. GAMMA Investing LLC raised its stake in shares of QUALCOMM by 20,700.4% during the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after purchasing an additional 3,247,068 shares during the last quarter. Northern Trust Corp raised its stake in shares of QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of QUALCOMM by 17.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock worth $1,502,509,000 after purchasing an additional 1,424,106 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of QUALCOMM by 24.1% during the first quarter. Goldman Sachs Group Inc. now owns 7,254,759 shares of the wireless technology company's stock worth $1,114,403,000 after purchasing an additional 1,407,797 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QUALCOMM stock traded up $1.05 during trading hours on Monday, hitting $158.90. The stock had a trading volume of 4,770,266 shares, compared to its average volume of 8,752,932. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. The stock has a market capitalization of $171.45 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 2.30 and a beta of 1.23. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.10. The stock's fifty day moving average is $155.80 and its two-hundred day moving average is $153.38.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.06. The company had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. QUALCOMM's revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors 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 (DPR) is presently 34.33%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on QCOM shares. Cantor Fitzgerald restated a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. UBS Group upped their price target on QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Mizuho cut their price target on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Piper Sandler cut their price objective on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $181.10.

Insider Activity at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction 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 trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $493,617.30. Following the sale, the chief financial officer directly owned 43,207 shares in the company, valued at approximately $6,398,956.70. The trade was a 7.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,352,355 over the last quarter. Insiders own 0.08% of the company's stock.

QUALCOMM Company 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.