Conning Inc. Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Conning Inc. grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 235,447 shares of the wireless technology company’s stock after acquiring an additional 1,734 shares during the quarter. QUALCOMM comprises 1.3% of Conning Inc.’s portfolio, making the stock its 25th largest holding. Conning Inc.’s holdings in QUALCOMM were worth $36,169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Paulson Wealth Management Inc. raised its stake in QUALCOMM by 2.2% in the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after buying an additional 61 shares during the last quarter. Blossom Wealth Management increased its holdings in shares of QUALCOMM by 2.6% during the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock valued at $434,000 after acquiring an additional 64 shares in the last quarter. Delta Financial Advisors LLC raised its position in shares of QUALCOMM by 2.1% in the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after purchasing an additional 65 shares during the last quarter. CFS Investment Advisory Services LLC boosted its stake in QUALCOMM by 1.1% in the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock worth $929,000 after purchasing an additional 65 shares in the last quarter. Finally, Toth Financial Advisory Corp grew its position in QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

QCOM has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday. Wells Fargo & Company raised their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Citigroup dropped their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Loop Capital started coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. Finally, Susquehanna dropped their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,981 shares of company stock worth $4,000,870 in the last 90 days. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $167.96 on Friday. The business’s 50 day moving average price is $161.96 and its 200 day moving average price is $166.04. The company has a market cap of $185.76 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.80 and a beta of 1.25. 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 $146.29 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, research analysts predict that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.02%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

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.