Conning Inc. Sells 3,246 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Conning Inc. trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 232,201 shares of the wireless technology company's stock after selling 3,246 shares during the period. QUALCOMM makes up approximately 1.2% of Conning Inc.'s investment portfolio, making the stock its 27th largest position. Conning Inc.'s holdings in QUALCOMM were worth $35,668,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Aurora Private Wealth Inc. acquired a new stake in QUALCOMM in the first quarter valued at about $1,826,000. Onyx Bridge Wealth Group LLC boosted its stake in shares of QUALCOMM by 6.5% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 3,799 shares of the wireless technology company's stock valued at $584,000 after purchasing an additional 232 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of QUALCOMM by 3.1% during the 1st quarter. Checchi Capital Advisers LLC now owns 15,557 shares of the wireless technology company's stock valued at $2,390,000 after purchasing an additional 461 shares during the last quarter. North Capital Inc. acquired a new position in QUALCOMM during the 1st quarter worth approximately $194,000. Finally, Barlow Wealth Partners Inc. bought a new position in QUALCOMM in the 1st quarter valued at approximately $201,000. 74.35% of the stock is owned by institutional investors.

Insider Activity

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider directly owned 22,793 shares of the company's stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 425,016 shares of company stock worth $8,437,440. Company insiders own 0.08% of the company's stock.

QUALCOMM Trading Down 0.1%

NASDAQ QCOM opened at $162.11 on Friday. The stock has a market capitalization of $177.99 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.26. The business has a 50 day simple moving average of $151.05 and a 200 day simple moving average of $154.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the firm posted $2.44 EPS. The company's quarterly revenue was up 17.0% on a year-over-year basis. Research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were paid a $0.89 dividend. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.20%. The ex-dividend date was Thursday, June 5th. QUALCOMM's payout ratio is 36.25%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on QCOM shares. Susquehanna cut their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. TD Cowen lowered their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Loop Capital reduced their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Finally, Robert W. Baird dropped their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $186.96.

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.

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