Brooklyn Investment Group Purchases 340 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Brooklyn Investment Group grew its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,163 shares of the wireless technology company’s stock after purchasing an additional 340 shares during the period. Brooklyn Investment Group’s holdings in QUALCOMM were worth $1,048,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Silvercrest Asset Management Group LLC lifted its position in QUALCOMM by 28.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 44,512 shares of the wireless technology company’s stock worth $7,536,000 after buying an additional 9,913 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in QUALCOMM by 4,201.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 60,740 shares of the wireless technology company’s stock worth $10,283,000 after acquiring an additional 59,328 shares in the last quarter. Dynasty Wealth Management LLC acquired a new position in QUALCOMM during the first quarter valued at approximately $584,000. Coppell Advisory Solutions Corp. bought a new position in QUALCOMM in the first quarter valued at approximately $225,000. Finally, Hancock Whitney Corp increased its position in shares of QUALCOMM by 30.4% during the 1st quarter. Hancock Whitney Corp now owns 29,639 shares of the wireless technology company’s stock worth $5,018,000 after purchasing an additional 6,911 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. Rosenblatt Securities boosted their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Sanford C. Bernstein lifted their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Citigroup lowered their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.15.

Insider Buying and Selling

In related news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value 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 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,450 shares of company stock valued at $2,911,306 over the last quarter. 0.08% of the stock is owned by company insiders.

QUALCOMM Price Performance

QUALCOMM stock opened at $158.82 on Tuesday. The stock’s fifty day moving average price is $167.67 and its two-hundred day moving average price is $181.44. The firm has a market cap of $176.45 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 2.64 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a one year low of $125.67 and a one year high of $230.63.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

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.