California Public Employees Retirement System Acquires 53,573 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

California Public Employees Retirement System grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,505,858 shares of the wireless technology company’s stock after buying an additional 53,573 shares during the quarter. California Public Employees Retirement System’s holdings in QUALCOMM were worth $538,570,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM in the fourth quarter worth about $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the 4th quarter worth approximately $29,000. CoreFirst Bank & Trust bought a new position in QUALCOMM in the 4th quarter worth approximately $33,000. Finally, Synergy Asset Management LLC acquired a new position in QUALCOMM during the 4th quarter worth $38,000. 74.35% of the stock is owned by institutional investors.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now owns 24,393 shares of the company’s stock, 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. Over the last quarter, insiders have sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

QCOM has been the subject of several research reports. Melius assumed coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Piper Sandler lowered their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Mizuho cut their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Barclays cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Down 3.3 %

NASDAQ:QCOM opened at $152.72 on Friday. The stock has a 50-day simple moving average of $164.16 and a 200 day simple moving average of $163.84. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a market cap of $168.91 billion, a PE ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28. 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 (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.23%. QUALCOMM’s dividend 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.