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

Algert Global LLC acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,836 shares of the wireless technology company’s stock, valued at approximately $366,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aviso Wealth Management raised its position in shares of QUALCOMM by 844.7% during the 2nd quarter. Aviso Wealth Management now owns 1,247 shares of the wireless technology company’s stock valued at $248,000 after acquiring an additional 1,115 shares during the last quarter. Full Sail Capital LLC increased its holdings in QUALCOMM by 24.1% in the second quarter. Full Sail Capital LLC now owns 1,731 shares of the wireless technology company’s stock valued at $345,000 after purchasing an additional 336 shares during the last quarter. Ascent Group LLC lifted its stake in QUALCOMM by 13.4% in the second quarter. Ascent Group LLC now owns 2,829 shares of the wireless technology company’s stock valued at $564,000 after buying an additional 335 shares during the period. Kathmere Capital Management LLC acquired a new position in shares of QUALCOMM during the 2nd quarter worth about $295,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of QUALCOMM in the 2nd quarter valued at about $896,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on QCOM shares. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. Citigroup upped their price objective on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $209.38.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now directly owns 32,231 shares of the company’s stock, valued at $5,355,180.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $166.34 on Wednesday. The firm has a market capitalization of $185.64 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average price is $167.77 and its two-hundred day moving average price is $182.17. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion during 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%. As a group, research analysts anticipate that QUALCOMM Incorporated will post 8.02 EPS for the current year.

About QUALCOMM

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.