New Age Alpha Advisors LLC Invests $1.99 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

New Age Alpha Advisors LLC bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the wireless technology company’s stock, valued at approximately $1,992,000. QUALCOMM accounts for 1.1% of New Age Alpha Advisors LLC’s holdings, making the stock its 24th biggest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gilbert & Cook Inc. grew its holdings in 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 bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $334,000. Hillsdale Investment Management Inc. increased its holdings in QUALCOMM by 27.1% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,312 shares of the wireless technology company’s stock worth $190,000 after acquiring an additional 280 shares in the last quarter. Quest Partners LLC bought a new stake in QUALCOMM during the 4th quarter worth approximately $375,000. Finally, CreativeOne Wealth LLC boosted its position in shares of QUALCOMM by 37.7% in the fourth quarter. CreativeOne Wealth LLC now owns 3,703 shares of the wireless technology company’s stock worth $536,000 after purchasing an additional 1,014 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on QCOM. Citigroup lifted their target price on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a research note on Wednesday, July 17th. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Barclays boosted their price target on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $211.67.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $168.30 on Thursday. The firm has a market capitalization of $187.82 billion, a PE ratio of 22.62, a PEG ratio of 1.81 and a beta of 1.28. The stock’s fifty day moving average is $173.71 and its 200 day moving average is $182.05. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. 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 (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.02%. QUALCOMM’s dividend payout ratio is 45.70%.

Insider Activity at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, 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 available at the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. 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 firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $3,496,590 in the last quarter. 0.08% of the stock is owned by company insiders.

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.