Brookstone Capital Management Has $8.42 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Brookstone Capital Management boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 153.1% during the 1st quarter, according to the company in its most recent disclosure 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 period. Brookstone Capital Management's holdings in QUALCOMM were worth $8,422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. Catalyst Capital Advisors LLC increased its holdings in shares of QUALCOMM by 51.7% in the first quarter. Catalyst Capital Advisors LLC now owns 2,958 shares of the wireless technology company's stock worth $454,000 after acquiring an additional 1,008 shares in the last quarter. Nichols & Pratt Advisers LLP MA increased its holdings in shares of QUALCOMM by 1.1% in the first quarter. Nichols & Pratt Advisers LLP MA now owns 159,500 shares of the wireless technology company's stock worth $24,497,000 after acquiring an additional 1,716 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in shares of QUALCOMM by 8.4% in the first quarter. IFM Investors Pty Ltd now owns 234,140 shares of the wireless technology company's stock worth $39,816,000 after acquiring an additional 18,047 shares in the last quarter. GF Fund Management CO. LTD. increased its holdings in shares of QUALCOMM by 0.6% in the first quarter. GF Fund Management CO. LTD. now owns 214,474 shares of the wireless technology company's stock worth $32,945,000 after acquiring an additional 1,281 shares in the last quarter. Finally, Silver Oak Securities Incorporated increased its holdings in shares of QUALCOMM by 16.6% in the first quarter. Silver Oak Securities Incorporated now owns 13,272 shares of the wireless technology company's stock worth $2,027,000 after acquiring an additional 1,891 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Down 0.1%

Shares of QUALCOMM stock traded down $0.22 during trading hours on Friday, reaching $162.11. 4,280,773 shares of the company's stock were exchanged, compared to its average volume of 8,546,883. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09. The stock has a market cap of $177.99 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.26. The company has a 50 day moving average of $151.32 and a two-hundred day moving average of $154.94. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period last year, the business posted $2.44 EPS. QUALCOMM's revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have issued reports on QCOM shares. Cantor Fitzgerald restated a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Benchmark reduced their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company reduced their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $186.96.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider owned 22,793 shares of the company's stock, valued at $3,139,507.82. This trade represents a 6.56% 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. Insiders own 0.08% of the company's stock.

QUALCOMM Company 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.