QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 32.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,045 shares of the wireless technology company’s stock after buying an additional 1,492 shares during the period. Alpha DNA Investment Management LLC’s holdings in QUALCOMM were worth $1,204,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Kingfisher Capital LLC lifted its stake in shares of QUALCOMM by 4.7% during the second quarter. Kingfisher Capital LLC now owns 1,820 shares of the wireless technology company’s stock valued at $362,000 after buying an additional 81 shares during the period. Toronto Dominion Bank raised its holdings in QUALCOMM by 6.2% in the 2nd quarter. Toronto Dominion Bank now owns 767,394 shares of the wireless technology company’s stock valued at $152,850,000 after acquiring an additional 44,618 shares during the last quarter. Fred Alger Management LLC lifted its stake in shares of QUALCOMM by 5.8% during the 2nd quarter. Fred Alger Management LLC now owns 55,972 shares of the wireless technology company’s stock worth $11,149,000 after purchasing an additional 3,078 shares during the period. Wescott Financial Advisory Group LLC acquired a new stake in shares of QUALCOMM during the second quarter worth $449,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of QUALCOMM by 59.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 213,755 shares of the wireless technology company’s stock worth $42,576,000 after purchasing an additional 79,826 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated 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 directly owns 229,987 shares in the company, valued at $36,912,913.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,000 shares of company stock valued at $3,496,590. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on QCOM. Mizuho increased their target price on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Piper Sandler reiterated an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Bank of America lifted their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $211.67.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $166.95 on Wednesday. The firm has a 50-day moving average of $170.82 and a two-hundred day moving average of $182.16. 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 stock has a market cap of $185.98 billion, a P/E ratio of 22.44, a PEG ratio of 1.82 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. On average, research analysts expect that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

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.