QUALCOMM Incorporated (NASDAQ:QCOM) Stake Cut by Brave Asset Management Inc.

Brave Asset Management Inc. trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 31.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,979 shares of the wireless technology company’s stock after selling 889 shares during the quarter. Brave Asset Management Inc.’s holdings in QUALCOMM were worth $286,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Milestone Investment Advisors LLC purchased a new position in QUALCOMM in the 1st quarter worth about $26,000. DHJJ Financial Advisors Ltd. bought a new stake in shares of QUALCOMM in the 3rd quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. grew its stake in shares of QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares in the last quarter. Fortitude Family Office LLC bought a new stake in QUALCOMM during the fourth quarter worth approximately $35,000. Finally, Pacific Center for Financial Services bought a new stake in QUALCOMM during the first quarter worth approximately $31,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded up $0.17 during trading hours on Thursday, reaching $169.30. The company had a trading volume of 5,323,053 shares, compared to its average volume of 9,007,399. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59. The business has a fifty day simple moving average of $157.64 and a 200 day simple moving average of $135.88. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The firm has a market cap of $188.94 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 2.28 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. On average, analysts anticipate that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were given a dividend of $0.80 per share. The ex-dividend date was Wednesday, February 28th. This represents a $3.20 dividend on an annualized basis and a yield of 1.89%. QUALCOMM’s payout ratio is 46.38%.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the transaction, the insider now owns 4,972 shares of the company’s stock, valued at approximately $691,108. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold 34,360 shares of company stock worth $5,457,048 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on QCOM shares. Mizuho upped their price target on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. TD Cowen upped their price target on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a report on Thursday, February 1st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a report on Monday, March 4th. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $148.71.

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.