Hartford Investment Management Co. Has $10.85 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Hartford Investment Management Co. decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,987 shares of the wireless technology company’s stock after selling 6,442 shares during the quarter. Hartford Investment Management Co.’s holdings in QUALCOMM were worth $10,845,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Glass Jacobson Investment Advisors llc raised its position in shares of QUALCOMM by 6.5% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after acquiring an additional 68 shares during the last quarter. Chilton Capital Management LLC raised its position in shares of QUALCOMM by 1.9% during the fourth quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock worth $544,000 after acquiring an additional 70 shares during the last quarter. Certified Advisory Corp raised its position in shares of QUALCOMM by 0.7% during the first quarter. Certified Advisory Corp now owns 11,582 shares of the wireless technology company’s stock worth $1,770,000 after acquiring an additional 79 shares during the last quarter. Source Financial Advisors LLC raised its position in shares of QUALCOMM by 2.2% during the fourth quarter. Source Financial Advisors LLC now owns 3,903 shares of the wireless technology company’s stock worth $564,000 after acquiring an additional 85 shares during the last quarter. Finally, Insight Inv LLC raised its position in shares of QUALCOMM by 0.5% during the fourth quarter. Insight Inv LLC now owns 17,266 shares of the wireless technology company’s stock worth $2,497,000 after acquiring an additional 85 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Thursday, February 1st. Barclays increased their price target on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Canaccord Genuity Group increased their price target on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Finally, StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. One research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.71.

Get Our Latest Analysis on QCOM

QUALCOMM Stock Up 1.5 %

Shares of QUALCOMM stock traded up $2.54 during trading hours on Wednesday, reaching $173.58. The company’s stock had a trading volume of 2,649,675 shares, compared to its average volume of 8,845,264. The stock’s fifty day simple moving average is $159.20 and its two-hundred day simple moving average is $137.68. The company has a market capitalization of $193.72 billion, a P/E ratio of 25.10, a P/E/G ratio of 2.35 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59.

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

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.20 dividend on an annualized basis and a yield of 1.84%. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Insider Buying and Selling

In other news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the transaction, the chief executive officer now owns 32,400 shares in the company, valued at $4,843,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, April 1st. The stock was sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the completion of the sale, the chief technology officer now owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the sale, the chief executive officer now directly owns 32,400 shares in the company, valued at approximately $4,843,800. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,360 shares of company stock worth $6,803,208. Insiders own 0.08% of the company’s stock.

About QUALCOMM

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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