QUALCOMM Incorporated (NASDAQ:QCOM) Stock Holdings Increased by Brucke Financial Inc.

Key Points

• Brucke Financial Inc. increased its stake in QUALCOMM by 53.8%, now owning 4,589 shares valued at $681,000.
• QUALCOMM reported a quarterly EPS of $2.85, exceeding analyst expectations, with a revenue of $10.98 billion, marking a 17.0% year-over-year increase.
• The company announced a quarterly dividend of $0.89 per share, representing an annual yield of 2.21%.

Brucke Financial Inc. lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 53.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,589 shares of the wireless technology company's stock after purchasing an additional 1,605 shares during the quarter. Brucke Financial Inc.'s holdings in QUALCOMM were worth $681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC raised its position in QUALCOMM by 116.6% during the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after acquiring an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC raised its position in QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after acquiring an additional 340 shares in the last quarter. Clearbridge Investments LLC raised its position in QUALCOMM by 3.1% during the fourth quarter. Clearbridge Investments LLC now owns 177,954 shares of the wireless technology company's stock valued at $27,337,000 after acquiring an additional 5,348 shares in the last quarter. FSB Premier Wealth Management Inc. raised its position in QUALCOMM by 13.1% during the fourth quarter. FSB Premier Wealth Management Inc. now owns 3,839 shares of the wireless technology company's stock valued at $590,000 after acquiring an additional 444 shares in the last quarter. Finally, AIA Group Ltd raised its position in QUALCOMM by 27.8% during the fourth quarter. AIA Group Ltd now owns 25,400 shares of the wireless technology company's stock valued at $3,902,000 after acquiring an additional 5,520 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 1.7%

Shares of NASDAQ QCOM opened at $161.05 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.64. The stock has a market capitalization of $176.83 billion, a P/E ratio of 16.40, a PEG ratio of 2.04 and a beta of 1.26. The stock's fifty day moving average is $154.74 and its 200 day moving average is $155.00.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 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 company had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter last year, the business earned $2.44 earnings per share. QUALCOMM's revenue was up 17.0% on a year-over-year basis. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's dividend payout ratio is presently 36.25%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Citigroup reissued a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. Evercore ISI dropped their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a research note on Monday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $183.95.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the sale, the chief financial officer directly owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM 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 a total of 424,099 shares of company stock worth $8,310,735 over the last 90 days. 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.

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