Brookwood Investment Group LLC Takes $795,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Brookwood Investment Group LLC purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,177 shares of the wireless technology company's stock, valued at approximately $795,000.

A number of other hedge funds have also modified their holdings of QCOM. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the 1st quarter valued at $27,000. Banque Transatlantique SA purchased a new position in shares of QUALCOMM in the 4th quarter worth $26,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 70 shares during the last quarter. Sunbeam Capital Management LLC acquired a new position in QUALCOMM in the fourth quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in QUALCOMM during the fourth quarter valued at about $30,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction 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 of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated 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 have sold 424,099 shares of company stock valued at $8,310,735 in the last quarter. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

QCOM traded down $0.44 during trading on Friday, reaching $158.40. 4,805,669 shares of the company were exchanged, compared to its average volume of 7,220,092. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.64. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $154.60 and a 200 day moving average of $155.03. The stock has a market cap of $173.92 billion, a P/E ratio of 16.13, a PEG ratio of 2.05 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data 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 26.11% and a return on equity of 40.11%. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period last year, the firm posted $2.44 EPS. QUALCOMM's quarterly revenue was up 17.0% compared to the same quarter last year. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.25%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio is currently 36.25%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on QCOM shares. Benchmark dropped their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Evercore ISI dropped their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Robert W. Baird reduced their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Loop Capital reduced their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, QUALCOMM currently has an average rating of "Hold" and an average target price of $184.86.

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.