Brooklyn FI LLC Makes New $389,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

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

Other institutional investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM during the fourth quarter valued at approximately $26,000. CKW Financial Group bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM in the fourth quarter valued at $29,000. Synergy Asset Management LLC bought a new stake in QUALCOMM in the fourth quarter worth $38,000. Finally, Legacy Investment Solutions LLC purchased a new stake in QUALCOMM during the third quarter valued at $39,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Up 2.1 %

NASDAQ:QCOM traded up $3.26 during mid-day trading on Monday, reaching $160.08. The company's stock had a trading volume of 6,030,583 shares, compared to its average volume of 8,230,023. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $177.05 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The stock has a fifty day moving average of $164.51 and a 200-day moving average of $163.97. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63.

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QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Thursday, March 6th. QUALCOMM's payout ratio is 36.32%.

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 transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock worth $4,685,077 in the last three months. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on QCOM. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Cantor Fitzgerald restated a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Piper Sandler dropped their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Finally, Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 target price on the stock. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $205.32.

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.