Brooklyn Investment Group Boosts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Brooklyn Investment Group grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,620 shares of the wireless technology company’s stock after purchasing an additional 457 shares during the period. Brooklyn Investment Group’s holdings in QUALCOMM were worth $1,017,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Sax Wealth Advisors LLC boosted its holdings in QUALCOMM by 43.7% in the fourth quarter. Sax Wealth Advisors LLC now owns 1,776 shares of the wireless technology company’s stock worth $273,000 after purchasing an additional 540 shares during the period. Merit Financial Group LLC boosted its holdings in QUALCOMM by 40.4% in the fourth quarter. Merit Financial Group LLC now owns 22,889 shares of the wireless technology company’s stock worth $3,516,000 after purchasing an additional 6,591 shares during the period. Butensky & Cohen Financial Security Inc. boosted its holdings in shares of QUALCOMM by 4.4% during the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 28,713 shares of the wireless technology company’s stock valued at $4,411,000 after acquiring an additional 1,199 shares during the period. Relyea Zuckerberg Hanson LLC boosted its holdings in shares of QUALCOMM by 12.8% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 3,077 shares of the wireless technology company’s stock valued at $473,000 after acquiring an additional 350 shares during the period. Finally, Avanza Fonder AB acquired a new position in shares of QUALCOMM during the fourth quarter valued at $17,285,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In related news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $164.56 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The company has a market capitalization of $182.83 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.63 and a beta of 1.25. The company has a fifty day moving average of $158.98 and a 200-day moving average of $169.28. QUALCOMM Incorporated has a 52-week low of $139.26 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on QCOM. JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Melius Research began coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Citigroup reduced their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Susquehanna reduced their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Finally, Barclays reduced their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $206.57.

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.