AlphaQuest LLC Buys 8,624 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

AlphaQuest LLC raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 645.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,961 shares of the wireless technology company’s stock after acquiring an additional 8,624 shares during the period. AlphaQuest LLC’s holdings in QUALCOMM were worth $1,530,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Miramar Capital LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $8,868,000. Horan Securities Inc. increased its position in shares of QUALCOMM by 3.2% during the 4th quarter. Horan Securities Inc. now owns 3,248 shares of the wireless technology company’s stock valued at $499,000 after purchasing an additional 100 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $37,620,000. Axis Wealth Partners LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $460,000. Finally, United Community Bank increased its position in shares of QUALCOMM by 14.6% during the 4th quarter. United Community Bank now owns 4,102 shares of the wireless technology company’s stock valued at $630,000 after purchasing an additional 524 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now owns 63,115 shares in the company, valued at $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,045 shares of company stock worth $7,752,423 over the last three months. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

QCOM has been the subject of several research reports. Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Mizuho reduced their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Loop Capital began coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Piper Sandler reduced their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Up 3.3 %

NASDAQ QCOM opened at $161.22 on Monday. The company has a market capitalization of $178.31 billion, a P/E ratio of 17.22, a P/E/G ratio of 2.01 and a beta of 1.28. The stock has a 50 day moving average price of $164.76 and a 200-day moving average price of $165.03. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. QUALCOMM’s dividend payout ratio is presently 36.32%.

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.