Hartford Funds Management Co LLC Makes New $636,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Hartford Funds Management Co LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,398 shares of the wireless technology company’s stock, valued at approximately $636,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Financial Gravity Asset Management Inc. increased its stake in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the last quarter. Legacy Financial Group LLC acquired a new position in QUALCOMM during the third quarter worth $29,000. Fortitude Family Office LLC bought a new position in QUALCOMM during the fourth quarter valued at about $35,000. Cranbrook Wealth Management LLC lifted its position in shares of QUALCOMM by 68.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. boosted its stake in shares of QUALCOMM by 184.3% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock worth $37,000 after acquiring an additional 163,963 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on QCOM. KeyCorp boosted their target price on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Rosenblatt Securities lifted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a report on Thursday, February 1st. TD Cowen lifted their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, Barclays lifted their price objective on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $160.68.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at approximately $3,875,850. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock valued at $5,973,728 in the last three months. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

NASDAQ QCOM traded down $3.35 during trading on Tuesday, reaching $165.85. 6,908,978 shares of the company traded hands, compared to its average volume of 8,481,063. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The stock’s 50 day moving average price is $166.45 and its two-hundred day moving average price is $145.75. The company has a market cap of $185.09 billion, a price-to-earnings ratio of 24.04, a P/E/G ratio of 2.27 and a beta of 1.41. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, analysts anticipate that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is presently 46.38%.

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.