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

Brooktree Capital Management raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities & 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 makes up about 5.5% of Brooktree Capital Management’s portfolio, making the stock its 8th largest holding. Brooktree Capital Management’s holdings in QUALCOMM were worth $6,719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Planning Capital Management Corp grew its holdings in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Zions Bancorporation N.A. raised its stake in QUALCOMM by 21.1% in the third quarter. Zions Bancorporation N.A. now owns 5,755 shares of the wireless technology company’s stock valued at $979,000 after purchasing an additional 1,002 shares in the last quarter. Huntington National Bank lifted its position in QUALCOMM by 98.6% during the third quarter. Huntington National Bank now owns 240,074 shares of the wireless technology company’s stock worth $40,825,000 after purchasing an additional 119,220 shares during the period. Peak Asset Management LLC grew its stake in QUALCOMM by 24.9% during the third quarter. Peak Asset Management LLC now owns 6,491 shares of the wireless technology company’s stock worth $1,104,000 after buying an additional 1,295 shares in the last quarter. Finally, Plato Investment Management Ltd increased its holdings in QUALCOMM by 7.1% in the 3rd quarter. Plato Investment Management Ltd now owns 36,998 shares of the wireless technology company’s stock valued at $6,285,000 after buying an additional 2,449 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft upped their target price on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.92.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares in the company, valued at $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 ninety days, insiders sold 16,146 shares of company stock worth $2,709,186. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.2 %

QUALCOMM stock opened at $162.32 on Thursday. The firm has a 50 day moving average price of $168.29 and a two-hundred day moving average price of $182.29. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a 52-week low of $125.67 and a 52-week high of $230.63. The firm has a market cap of $180.34 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.75 and a beta of 1.28.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.09%. QUALCOMM’s payout ratio is currently 37.82%.

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.