Sherbrooke Park Advisers LLC Has $246,000 Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Sherbrooke Park Advisers LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 63.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,604 shares of the wireless technology company's stock after selling 2,733 shares during the quarter. Sherbrooke Park Advisers LLC's holdings in QUALCOMM were worth $246,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Silvercrest Asset Management Group LLC increased its position in QUALCOMM by 135.2% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 107,510 shares of the wireless technology company's stock worth $16,516,000 after buying an additional 61,809 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in QUALCOMM during the fourth quarter worth $2,293,000. Private Capital Management LLC increased its position in QUALCOMM by 73.8% during the fourth quarter. Private Capital Management LLC now owns 4,005 shares of the wireless technology company's stock worth $615,000 after buying an additional 1,700 shares during the last quarter. ProShare Advisors LLC increased its position in QUALCOMM by 17.4% during the fourth quarter. ProShare Advisors LLC now owns 1,688,851 shares of the wireless technology company's stock worth $259,441,000 after buying an additional 249,713 shares during the last quarter. Finally, Quadcap Wealth Management LLC increased its position in QUALCOMM by 1.5% during the fourth quarter. Quadcap Wealth Management LLC now owns 12,140 shares of the wireless technology company's stock worth $1,865,000 after buying an additional 180 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $153.70 on Tuesday. The firm has a market cap of $168.76 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 2.01 and a beta of 1.29. The company has a 50 day moving average of $145.96 and a 200-day moving average of $156.72. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. 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 posted 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 company's revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the business posted $2.44 earnings per share. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.32%. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Analysts Set New Price Targets

QCOM has been the topic of several research analyst reports. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Loop Capital lowered their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Citigroup lowered their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Finally, Evercore ISI lowered their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $192.08.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares of the company's stock, valued at $80,596.63. This trade represents a 61.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the sale, the chief financial officer now directly owns 59,778 shares of the company's stock, valued at approximately $9,374,385.96. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,312 shares of company stock valued at $1,948,379. Corporate insiders own 0.08% of the company's stock.

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.

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