Brooklyn FI LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Brooklyn FI LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,376 shares of the wireless technology company's stock, valued at approximately $389,000.

Other large investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM in the 4th quarter valued at about $26,000. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $29,000. Finally, Sunbeam Capital Management LLC acquired a new stake in QUALCOMM in the 4th quarter valued at approximately $29,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the transaction, the chief financial officer now directly owns 59,778 shares in the company, valued at $9,374,385.96. This represents a 5.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold a total of 425,068 shares of company stock worth $8,418,305 over the last 90 days. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Up 0.5%

NASDAQ QCOM traded up $0.74 during mid-day trading on Thursday, reaching $148.34. 5,979,884 shares of the company's stock traded hands, compared to its average volume of 8,820,115. The company has a market cap of $162.88 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 2.01 and a beta of 1.29. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a fifty day simple moving average of $144.83 and a 200-day simple moving average of $155.88. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63.

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

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is currently 36.25%.

Analyst Ratings Changes

A number of research analysts have commented on QCOM shares. Rosenblatt Securities restated a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 29th. Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Wells Fargo & Company dropped their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Finally, Robert W. Baird decreased their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $192.08.

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.