Algert Global LLC Grows Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Algert Global LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1,748.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,944 shares of the wireless technology company’s stock after purchasing an additional 32,108 shares during the period. Algert Global LLC’s holdings in QUALCOMM were worth $5,772,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. HWG Holdings LP purchased a new position in shares of QUALCOMM during the 2nd quarter worth about $30,000. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the 3rd quarter worth about $26,000. Financial Connections Group Inc. purchased a new position in shares of QUALCOMM during the 2nd quarter worth about $32,000. Aspect Partners LLC lifted its holdings in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 74 shares during the period. Finally, Planning Capital Management Corp lifted its holdings in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. The trade was a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,450 shares of company stock valued at $2,911,306 over the last 90 days. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

QCOM has been the topic of several recent analyst reports. Rosenblatt Securities increased their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Evercore ISI raised their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Friday, August 2nd. Piper Sandler restated an “overweight” rating and issued a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM Stock Performance

QUALCOMM stock opened at $156.79 on Friday. The company has a market cap of $174.19 billion, a PE ratio of 17.44, a P/E/G ratio of 2.61 and a beta of 1.28. The company has a fifty day moving average price of $167.82 and a two-hundred day moving average price of $181.58. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 37.82%.

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.