Brookstone Capital Management Purchases 991 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Brookstone Capital Management boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,148 shares of the wireless technology company’s stock after buying an additional 991 shares during the quarter. Brookstone Capital Management’s holdings in QUALCOMM were worth $4,957,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. WFA Asset Management Corp purchased a new position in QUALCOMM during the first quarter valued at $27,000. HWG Holdings LP purchased a new position in shares of QUALCOMM during the 2nd quarter valued at about $30,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM during the 2nd quarter valued at approximately $32,000. Aspect Partners LLC lifted its holdings in shares of QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares in the last quarter. Finally, Richardson Capital Management LLC bought a new position in shares of QUALCOMM during the first quarter worth $37,000. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on 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 owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction 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 completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction 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 in the company, valued at $8,535,970.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,245 shares of company stock valued at $3,679,407. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 1.0 %

NASDAQ:QCOM opened at $168.52 on Friday. The company has a market cap of $188.07 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $167.54 and a 200-day simple moving average of $182.06.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Analysts anticipate that QUALCOMM Incorporated will post 8.02 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Wells Fargo & Company increased their price target on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Barclays increased their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.38.

About QUALCOMM

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.