Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 6,275 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 236,232 shares of the wireless technology company’s stock after selling 6,275 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in QUALCOMM were worth $36,290,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. iA Global Asset Management Inc. grew its stake in shares of QUALCOMM by 2.7% during the 4th quarter. iA Global Asset Management Inc. now owns 174,672 shares of the wireless technology company’s stock worth $26,833,000 after acquiring an additional 4,659 shares in the last quarter. Magnetar Financial LLC bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $374,000. Teacher Retirement System of Texas boosted its holdings in shares of QUALCOMM by 99.6% in the 4th quarter. Teacher Retirement System of Texas now owns 712,857 shares of the wireless technology company’s stock valued at $109,509,000 after buying an additional 355,677 shares during the last quarter. Sandy Spring Bank boosted its holdings in shares of QUALCOMM by 1.4% in the 4th quarter. Sandy Spring Bank now owns 36,317 shares of the wireless technology company’s stock valued at $5,579,000 after buying an additional 513 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its holdings in shares of QUALCOMM by 1.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 494,523 shares of the wireless technology company’s stock valued at $75,969,000 after buying an additional 9,023 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 of the company’s stock, valued at $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the transaction, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at $9,374,385.96. This represents a 5.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays cut their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Piper Sandler cut their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Melius assumed coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Melius Research assumed coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Finally, Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Up 1.3 %

Shares of NASDAQ QCOM opened at $158.26 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63. The stock has a market capitalization of $175.04 billion, a P/E ratio of 16.91, a PEG ratio of 2.01 and a beta of 1.28. The stock’s fifty day moving average is $164.54 and its 200 day moving average is $164.15.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.15%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

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.