Brooktree Capital Management Sells 1,344 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Brooktree Capital Management decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,587 shares of the wireless technology company’s stock after selling 1,344 shares during the quarter. QUALCOMM makes up about 4.9% of Brooktree Capital Management’s holdings, making the stock its 8th biggest position. Brooktree Capital Management’s holdings in QUALCOMM were worth $6,015,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Financial Gravity Asset Management Inc. boosted its holdings in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares during the period. Legacy Financial Group LLC bought a new stake in shares of QUALCOMM during the 3rd quarter worth $29,000. Fortitude Family Office LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth $35,000. Cranbrook Wealth Management LLC boosted its holdings in shares of QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after buying an additional 100 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. boosted its holdings in QUALCOMM by 184.3% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock valued at $37,000 after purchasing an additional 163,963 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the sale, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $1.29 during mid-day trading on Wednesday, reaching $164.56. 2,759,394 shares of the stock were exchanged, compared to its average volume of 8,409,913. The company has a market cap of $183.65 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 2.32 and a beta of 1.41. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The firm has a 50-day simple moving average of $166.45 and a 200 day simple moving average of $145.75. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.07%. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research reports. Citigroup downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a report on Thursday, February 1st. HSBC increased their price target on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday. Mizuho increased their price target on shares of QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. TD Cowen increased their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, KeyCorp increased their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $160.68.

About QUALCOMM

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.