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

Hartford Funds Management Co LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, HoldingsChannel reports. The fund bought 4,398 shares of the wireless technology company’s stock, valued at approximately $636,000.

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

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. 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 quarter. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of several analyst reports. Barclays boosted their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Cantor Fitzgerald boosted their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Finally, Piper Sandler boosted their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $160.68.

QUALCOMM Price Performance

QUALCOMM stock traded down $3.35 during midday trading on Tuesday, reaching $165.85. 6,908,978 shares of the stock were exchanged, compared to its average volume of 8,481,063. The company’s fifty day moving average is $166.45 and its 200-day moving average is $145.75. 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 firm has a market cap of $185.09 billion, a PE ratio of 24.04, a PEG ratio of 2.27 and a beta of 1.41. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is 46.38%.

QUALCOMM Company 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.