Green Alpha Advisors LLC Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Green Alpha Advisors LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 61.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,230 shares of the wireless technology company's stock after purchasing an additional 9,188 shares during the quarter. QUALCOMM accounts for about 4.0% of Green Alpha Advisors LLC's portfolio, making the stock its 4th largest position. Green Alpha Advisors LLC's holdings in QUALCOMM were worth $3,722,000 as of its most recent filing with the Securities and Exchange Commission.

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Several other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the 4th quarter worth approximately $26,000. Banque Transatlantique SA bought a new stake in QUALCOMM during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM during the 4th quarter worth approximately $29,000. Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the 4th quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM during the 4th quarter worth approximately $30,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $145.22 on Friday. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The stock has a market cap of $159.45 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 2.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm's 50-day simple moving average is $144.30 and its 200 day simple moving average is $155.59.

• Qualcomm’s Re-Entry Into the CPU Market May Not Be Enough

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter last year, the firm earned $2.44 EPS. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Insiders Place Their Bets

• Qualcomm: This Week Could Make or Break the Rally

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the transaction, the chief financial officer now owns 59,778 shares of the company's stock, valued at $9,374,385.96. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 425,068 shares of company stock valued at $8,418,305 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

QCOM has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. TD Cowen reduced their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Benchmark reduced their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company reduced their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $189.88.

Check Out Our Latest Analysis on QUALCOMM

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.

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