QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 676,690 shares of the wireless technology company’s stock after selling 44,743 shares during the period. Retirement Systems of Alabama owned 0.06% of QUALCOMM worth $115,071,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the 3rd quarter worth approximately $26,000. HWG Holdings LP acquired a new stake in QUALCOMM during the 2nd quarter valued at $30,000. Financial Connections Group Inc. purchased a new position in QUALCOMM during the second quarter worth $32,000. Planning Capital Management Corp raised its holdings in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares during the last quarter. Finally, Accordant Advisory Group Inc purchased a new stake in shares of QUALCOMM in the third quarter valued at $36,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on QCOM. JPMorgan Chase & Co. cut their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Wednesday, November 20th. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company boosted their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Finally, Citigroup decreased their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $208.00.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,540 shares of company stock valued at $6,300,999 in the last quarter. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

QUALCOMM stock opened at $158.58 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a one year low of $134.94 and a one year high of $230.63. The stock’s 50 day moving average price is $165.18 and its 200 day moving average price is $178.37. The firm has a market capitalization of $176.18 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 2.68 and a beta of 1.25.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.14%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

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.