Brookstone Capital Management Grows Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Brookstone Capital Management raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 153.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,824 shares of the wireless technology company's stock after acquiring an additional 33,159 shares during the quarter. Brookstone Capital Management's holdings in QUALCOMM were worth $8,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $26,000. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the 1st quarter worth approximately $27,000. Sunbeam Capital Management LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $29,000. Mascagni Wealth Management Inc. acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $30,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Trading Down 0.1%

Shares of QUALCOMM stock traded down $0.22 during midday trading on Friday, reaching $162.11. 4,280,773 shares of the company's stock traded hands, compared to its average volume of 8,546,883. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The company has a market cap of $177.99 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.09 and a beta of 1.26. The stock has a 50 day moving average of $151.32 and a 200-day moving average of $154.94. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the company earned $2.44 earnings per share. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.20%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date was Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Bank of America lowered their price target on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, June 17th. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Wells Fargo & Company reduced their price objective 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. Rosenblatt Securities reissued a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Robert W. Baird reduced their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $186.96.

Insider Buying and Selling

In related news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the transaction, the chief financial officer owned 46,446 shares of the company's stock, valued at $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 425,016 shares of company stock worth $8,437,440. 0.08% of the stock is owned by corporate insiders.

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.