Brooklyn FI LLC Invests $389,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Brooklyn FI LLC acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,376 shares of the wireless technology company’s stock, valued at approximately $389,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Xponance Inc. lifted its position in shares of QUALCOMM by 1.9% in the 4th quarter. Xponance Inc. now owns 286,752 shares of the wireless technology company’s stock worth $44,051,000 after purchasing an additional 5,236 shares during the period. Generali Asset Management SPA SGR acquired a new position in QUALCOMM in the fourth quarter valued at $12,302,000. Evoke Wealth LLC lifted its holdings in QUALCOMM by 1.3% in the fourth quarter. Evoke Wealth LLC now owns 21,073 shares of the wireless technology company’s stock valued at $3,237,000 after buying an additional 272 shares during the period. Brooktree Capital Management grew its holdings in QUALCOMM by 1.3% during the 4th quarter. Brooktree Capital Management now owns 40,026 shares of the wireless technology company’s stock worth $6,149,000 after acquiring an additional 517 shares during the period. Finally, Clarity Wealth Development LLC bought a new position in shares of QUALCOMM in the 4th quarter worth about $186,000. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

QCOM has been the subject of a number of research analyst reports. Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Piper Sandler cut their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Barclays reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Buying and Selling

In related news, CAO Neil Martin sold 744 shares of the business’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 transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock valued at $4,685,077 over the last quarter. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $158.26 on Thursday. The business’s 50 day moving average price is $164.54 and its 200-day moving average price is $164.15. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The company has a market cap of $175.04 billion, a P/E ratio of 16.91, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM’s payout ratio is 36.32%.

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.