Algert Global LLC Takes $366,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Algert Global LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,836 shares of the wireless technology company’s stock, valued at approximately $366,000.

A number of other institutional investors have also recently bought and sold shares of the company. Cresset Asset Management LLC lifted its stake in QUALCOMM by 5.0% in the fourth quarter. Cresset Asset Management LLC now owns 154,812 shares of the wireless technology company’s stock valued at $22,390,000 after acquiring an additional 7,442 shares during the last quarter. Bellevue Group AG bought a new stake in QUALCOMM in the fourth quarter worth $50,000. Symmetry Investments LP acquired a new position in QUALCOMM during the fourth quarter worth $557,000. Icon Wealth Advisors LLC bought a new position in QUALCOMM during the fourth quarter valued at about $1,648,000. Finally, Ethic Inc. lifted its position in shares of QUALCOMM by 11.0% in the fourth quarter. Ethic Inc. now owns 86,858 shares of the wireless technology company’s stock worth $12,562,000 after buying an additional 8,636 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $166.34 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The business’s fifty day moving average price is $167.77 and its two-hundred day moving average price is $182.17. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The stock has a market capitalization of $185.64 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. As a group, analysts predict that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the transaction, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,245 shares of company stock valued at $3,679,407 in the last three months. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on QCOM shares. Susquehanna increased their price objective on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Cantor Fitzgerald decreased their price target on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $209.38.

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.