MassMutual Private Wealth & Trust FSB Purchases 6,239 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

MassMutual Private Wealth & Trust FSB lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 11.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,271 shares of the wireless technology company's stock after purchasing an additional 6,239 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in QUALCOMM were worth $9,565,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QCOM. Eagle Strategies LLC increased its position in QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after buying an additional 59 shares during the period. Clark Capital Management Group Inc. increased its position in shares of QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after purchasing an additional 59 shares during the period. TBH Global Asset Management LLC increased its position in shares of QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock worth $1,083,000 after purchasing an additional 63 shares during the period. PDS Planning Inc increased its position in shares of QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after purchasing an additional 64 shares during the period. Finally, Cassady Schiller Wealth Management LLC increased its position in shares of QUALCOMM by 15.8% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the sale, the chief financial officer now directly owns 57,728 shares of the company's stock, valued at $7,568,140.80. This represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 425,068 shares of company stock valued at $8,418,305. Company insiders own 0.08% of the company's stock.

QUALCOMM Trading Down 2.1%

Shares of NASDAQ:QCOM traded down $3.12 during mid-day trading on Friday, hitting $145.22. The company had a trading volume of 13,752,285 shares, compared to its average volume of 8,810,967. The firm has a fifty day moving average price of $144.60 and a 200 day moving average price of $155.74. The company has a market capitalization of $159.45 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. QUALCOMM's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.44 EPS. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Wall Street Analyst Weigh In

Several brokerages have commented on QCOM. Citigroup lowered their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $192.08.

About QUALCOMM

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.