QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,640 shares of the wireless technology company’s stock after selling 1,469 shares during the period. Hartford Investment Management Co.’s holdings in QUALCOMM were worth $10,544,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Fiduciary Alliance LLC grew its holdings in QUALCOMM by 34.9% in the third quarter. Fiduciary Alliance LLC now owns 4,216 shares of the wireless technology company’s stock valued at $717,000 after purchasing an additional 1,091 shares during the last quarter. Harrington Investments INC increased its holdings in QUALCOMM by 0.6% during the 3rd quarter. Harrington Investments INC now owns 22,638 shares of the wireless technology company’s stock valued at $3,850,000 after acquiring an additional 130 shares in the last quarter. CX Institutional raised its position in QUALCOMM by 334.2% during the third quarter. CX Institutional now owns 24,960 shares of the wireless technology company’s stock worth $4,244,000 after acquiring an additional 19,212 shares during the last quarter. Wesbanco Bank Inc. lifted its holdings in shares of QUALCOMM by 0.7% in the third quarter. Wesbanco Bank Inc. now owns 13,590 shares of the wireless technology company’s stock valued at $2,311,000 after purchasing an additional 88 shares in the last quarter. Finally, Creative Planning lifted its holdings in shares of QUALCOMM by 0.5% in the third quarter. Creative Planning now owns 403,811 shares of the wireless technology company’s stock valued at $68,147,000 after purchasing an additional 2,086 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Loop Capital started coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, UBS Group lifted their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Performance

QUALCOMM stock opened at $171.99 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62. QUALCOMM Incorporated has a one year low of $148.41 and a one year high of $230.63. The stock’s 50 day moving average price is $162.31 and its 200 day moving average price is $165.53. The firm has a market capitalization of $190.22 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is currently 36.32%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,268 shares of company stock valued at $7,276,381. Insiders own 0.08% of the company’s stock.

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.