QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Harrington Investments INC

Harrington Investments INC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% in the first quarter, HoldingsChannel.com reports. The firm owned 23,087 shares of the wireless technology company’s stock after buying an additional 360 shares during the period. QUALCOMM accounts for approximately 2.0% of Harrington Investments INC’s portfolio, making the stock its 15th largest holding. Harrington Investments INC’s holdings in QUALCOMM were worth $3,546,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Tallon Kerry Patrick acquired a new position in QUALCOMM in the 4th quarter valued at about $207,000. LaFleur & Godfrey LLC boosted its stake in shares of QUALCOMM by 10.6% in the fourth quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company’s stock valued at $480,000 after purchasing an additional 300 shares during the period. Brighton Jones LLC grew its holdings in shares of QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock valued at $2,666,000 after purchasing an additional 9,343 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $10,394,000. Finally, Revolve Wealth Partners LLC increased its stake in QUALCOMM by 15.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock worth $391,000 after buying an additional 340 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Up 1.1%

Shares of NASDAQ QCOM opened at $149.24 on Friday. The business has a 50-day moving average price of $143.61 and a 200 day moving average price of $155.12. The stock has a market cap of $163.87 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 earnings per share. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.39%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is currently 36.25%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on QCOM. Loop Capital cut their price target on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Seaport Res Ptn raised QUALCOMM to a “hold” rating in a research report on Friday, May 9th. Wells Fargo & Company reduced their target price on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Benchmark dropped their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $189.88.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 1,781 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $132.10, for a total transaction of $235,270.10. Following the completion of the sale, the chief financial officer now directly owns 57,997 shares of the company’s stock, valued at approximately $7,661,403.70. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 425,064 shares of company stock valued at $8,381,948. Insiders own 0.08% of the company’s stock.

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.