Harmony Asset Management LLC Has $373,000 Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Harmony Asset Management LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 27.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,431 shares of the wireless technology company’s stock after buying an additional 529 shares during the period. Harmony Asset Management LLC’s holdings in QUALCOMM were worth $373,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM during the fourth quarter worth about $26,000. Banque Transatlantique SA acquired a new stake in QUALCOMM during the fourth quarter worth about $26,000. CKW Financial Group acquired a new stake in QUALCOMM during the fourth quarter worth about $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM during the fourth quarter worth about $29,000. Finally, CoreFirst Bank & Trust acquired a new stake in QUALCOMM during the fourth quarter worth about $33,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Loop Capital reduced their price target on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Robert W. Baird reduced their price target on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities restated a “buy” rating and issued a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, TD Cowen reduced their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $192.08.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $139.77, for a total transaction of $465,853.41. Following the completion of the transaction, the chief financial officer now owns 53,112 shares in the company, valued at approximately $7,423,464.24. This trade represents a 5.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. The trade was a 61.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,312 shares of company stock worth $1,948,379. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Down 1.6%

Shares of NASDAQ QCOM opened at $151.31 on Thursday. The company has a 50 day simple moving average of $145.89 and a 200 day simple moving average of $156.67. The firm has a market cap of $166.14 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the business earned $2.44 EPS. The company’s revenue was up 17.0% compared to the same quarter last year. On average, research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.35%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

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.