Harrington Investments INC reduced its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 7.0% in the fourth quarter, Holdings Channel reports. The fund owned 15,216 shares of the wireless technology company’s stock after selling 1,150 shares during the period. Harrington Investments INC’s holdings in QUALCOMM were worth $974,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. Westwood Holdings Group Inc. purchased a new position in QUALCOMM in the 2nd quarter worth approximately $114,000. Cerebellum GP LLC purchased a new position in QUALCOMM in the 4th quarter worth approximately $126,000. Krilogy Financial LLC raised its holdings in QUALCOMM by 47.0% in the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after acquiring an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. purchased a new position in QUALCOMM in the 2nd quarter worth approximately $141,000. Finally, Jacobi Capital Management LLC raised its holdings in QUALCOMM by 7.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 77.14% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $74.63 price objective for the company in a report on Friday, January 26th. Mizuho reiterated a “buy” rating and set a $75.00 target price (up from $65.00) on shares of QUALCOMM in a research note on Wednesday, January 17th. Northland Securities reiterated a “buy” rating and set a $75.00 target price on shares of QUALCOMM in a research note on Thursday, February 1st. Stifel Nicolaus lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and boosted their target price for the company from $65.00 to $75.00 in a research note on Tuesday, November 28th. Finally, BidaskClub lowered shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Wednesday, February 21st. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $68.25.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.07. The company had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. QUALCOMM’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.19 EPS. research analysts anticipate that QUALCOMM, Inc. will post 2.8 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s dividend payout ratio is currently -93.06%.
In related news, EVP Alexander H. Rogers sold 713 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $68.20, for a total value of $48,626.60. Following the completion of the transaction, the executive vice president now owns 10,403 shares of the company’s stock, valued at approximately $709,484.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alexander H. Rogers sold 919 shares of the company’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $64.32, for a total transaction of $59,110.08. Following the completion of the transaction, the executive vice president now directly owns 11,116 shares of the company’s stock, valued at approximately $714,981.12. The disclosure for this sale can be found here. Insiders sold a total of 45,812 shares of company stock valued at $2,996,776 in the last ninety days. 0.17% of the stock is currently owned by insiders.
TRADEMARK VIOLATION WARNING: This story was first posted by Ticker Report and is the sole property of of Ticker Report. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://www.tickerreport.com/banking-finance/3252899/qualcomm-inc-qcom-position-trimmed-by-harrington-investments-inc.html.
QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM, Inc. (NASDAQ:QCOM).
Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.