Alphastar Capital Management LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 20.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,762 shares of the wireless technology company's stock after purchasing an additional 635 shares during the period. Alphastar Capital Management LLC's holdings in QUALCOMM were worth $575,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of QUALCOMM during the fourth quarter worth $2,266,923,000. BlackRock Inc. lifted its position in shares of QUALCOMM by 4.3% during the fourth quarter. BlackRock Inc. now owns 81,379,537 shares of the wireless technology company's stock worth $14,881,876,000 after acquiring an additional 3,319,939 shares in the last quarter. Capital International Investors lifted its position in shares of QUALCOMM by 63.2% during the fourth quarter. Capital International Investors now owns 6,843,216 shares of the wireless technology company's stock worth $1,251,413,000 after acquiring an additional 2,648,829 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of QUALCOMM by 37.2% during the fourth quarter. Nuveen Asset Management LLC now owns 8,468,283 shares of the wireless technology company's stock worth $1,548,596,000 after acquiring an additional 2,294,400 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of QUALCOMM by 10.6% during the fourth quarter. Alliancebernstein L.P. now owns 20,174,284 shares of the wireless technology company's stock worth $3,689,271,000 after acquiring an additional 1,934,339 shares in the last quarter. Hedge funds and other institutional investors own 73.61% of the company's stock.
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Insider Activity at QUALCOMM
In related news, CAO Erin L. Polek sold 1,521 shares of the firm's stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $129.95, for a total transaction of $197,653.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.05% of the stock is owned by insiders.
QUALCOMM Stock Performance
Shares of QCOM opened at $144.37 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.61 and a quick ratio of 1.27. QUALCOMM Incorporated has a one year low of $118.22 and a one year high of $193.58. The company has a 50-day simple moving average of $132.48 and a two-hundred day simple moving average of $150.94. The firm has a market capitalization of $161.69 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 0.77 and a beta of 1.20.
QUALCOMM (NASDAQ:QCOM – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The wireless technology company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.67 by $0.19. QUALCOMM had a net margin of 28.42% and a return on equity of 103.73%. The business had revenue of $11.16 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period last year, the business posted $1.59 earnings per share. On average, analysts anticipate that QUALCOMM Incorporated will post 11.05 EPS for the current fiscal year.
QUALCOMM Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.08%. QUALCOMM's payout ratio is 30.71%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on QCOM shares. Edward Jones upgraded QUALCOMM from a "hold" rating to a "buy" rating in a research report on Friday. Wells Fargo & Company lowered their price objective on QUALCOMM from $150.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Monday, July 11th. Susquehanna lowered their price objective on QUALCOMM from $190.00 to $165.00 in a research report on Thursday, April 28th. KeyCorp increased their price objective on QUALCOMM from $200.00 to $220.00 in a research report on Monday, June 13th. Finally, Piper Sandler lowered their price objective on QUALCOMM from $225.00 to $190.00 in a research report on Thursday, April 28th. Nine investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, QUALCOMM currently has an average rating of "Moderate Buy" and a consensus target price of $195.08.
About QUALCOMM
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QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.
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