Brave Asset Management Inc. Trims Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Brave Asset Management Inc. cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 31.0% during the fourth quarter, Holdings Channel.com reports. The firm 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 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. DHJJ Financial Advisors Ltd. acquired a new stake in shares of QUALCOMM during the third quarter valued at about $26,000. Financial Gravity Asset Management Inc. grew its holdings in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. Milestone Investment Advisors LLC acquired a new position in shares of QUALCOMM in the first quarter valued at approximately $26,000. Pacifica Partners Inc. grew its holdings in shares of QUALCOMM by 150.0% in the third quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company’s stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. Finally, Legacy Financial Group LLC acquired a new position in shares of QUALCOMM in the third quarter valued at approximately $29,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

QCOM stock traded up $0.17 on Thursday, hitting $169.30. The company’s stock had a trading volume of 5,323,053 shares, compared to its average volume of 9,007,399. The firm has a 50 day moving average of $157.64 and a two-hundred day moving average of $135.88. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The stock has a market cap of $188.94 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 2.28 and a beta of 1.41. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Equities analysts predict that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were paid 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 dividend yield of 1.89%. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on QCOM shares. TD Cowen lifted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Cantor Fitzgerald restated a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a report on Monday, March 4th. Citigroup downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a research note on Thursday, February 1st. JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Finally, Barclays lifted their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $148.71.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were 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 approximately $103,232.87. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $169.60, for a total value of $1,373,760.00. Following the completion of the sale, the chief executive officer now owns 16,200 shares of the company’s stock, valued at $2,747,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,360 shares of company stock valued at $5,457,048. Insiders own 0.08% of the company’s stock.

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.