QUALCOMM Incorporated (NASDAQ:QCOM) Stake Boosted by Alpha Family Trust

Alpha Family Trust increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,850 shares of the wireless technology company’s stock after purchasing an additional 475 shares during the period. Alpha Family Trust’s holdings in QUALCOMM were worth $966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. increased its holdings in shares of QUALCOMM by 7.3% during the fourth quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock valued at $760,000 after purchasing an additional 356 shares during the period. Gryphon Financial Partners LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at $334,000. Dynamic Technology Lab Private Ltd increased its holdings in shares of QUALCOMM by 90.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 9,639 shares of the wireless technology company’s stock valued at $1,394,000 after purchasing an additional 4,570 shares during the period. Hillsdale Investment Management Inc. increased its holdings in shares of QUALCOMM by 27.1% during the fourth quarter. Hillsdale Investment Management Inc. now owns 1,312 shares of the wireless technology company’s stock valued at $190,000 after purchasing an additional 280 shares during the period. Finally, Gladstone Institutional Advisory LLC increased its holdings in shares of QUALCOMM by 3.7% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 14,631 shares of the wireless technology company’s stock valued at $2,116,000 after purchasing an additional 516 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Mizuho raised their price target on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 31st. Wells Fargo & Company lifted their target price on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Barclays lifted their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research note on Wednesday, July 17th. Finally, Bank of America lifted their price target on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $210.63.

QUALCOMM Stock Down 0.7 %

Shares of QCOM stock opened at $166.61 on Tuesday. The stock’s 50 day simple moving average is $175.29 and its 200 day simple moving average is $182.11. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a market capitalization of $185.94 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.81 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, research analysts predict that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,000 shares of company stock worth $3,496,590. Company insiders own 0.08% of the company’s stock.

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.