QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Brooktree Capital Management

Brooktree Capital Management raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,509 shares of the wireless technology company’s stock after purchasing an additional 182 shares during the period. QUALCOMM accounts for approximately 5.5% of Brooktree Capital Management’s holdings, making the stock its 8th biggest holding. Brooktree Capital Management’s holdings in QUALCOMM were worth $6,719,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of QCOM. HWG Holdings LP bought a new stake in QUALCOMM in the second quarter valued at about $30,000. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the 3rd quarter worth about $26,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM during the 2nd quarter worth about $32,000. Aspect Partners LLC increased its stake in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the last quarter. Finally, Planning Capital Management Corp raised its position in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $162.32 on Thursday. QUALCOMM Incorporated has a 52-week low of $125.67 and a 52-week high of $230.63. The company has a market cap of $180.34 billion, a P/E ratio of 17.84, a P/E/G ratio of 2.75 and a beta of 1.28. 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 stock’s 50-day simple moving average is $168.29 and its 200 day simple moving average is $182.29.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is presently 37.82%.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares in the company, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on QCOM. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Evercore ISI boosted their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Susquehanna lowered their price objective on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Piper Sandler reiterated an “overweight” rating and set a $205.00 target price (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.92.

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.