Kentucky Retirement Systems Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Kentucky Retirement Systems reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,553 shares of the wireless technology company’s stock after selling 1,054 shares during the quarter. Kentucky Retirement Systems’ holdings in QUALCOMM were worth $11,760,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the third quarter worth $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM during the fourth quarter worth $27,000. Planning Capital Management Corp lifted its position in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Synergy Asset Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth $38,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of QUALCOMM during the third quarter worth $39,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Down 0.9 %

QUALCOMM stock opened at $173.70 on Friday. The company has a 50-day simple moving average of $164.32 and a 200-day simple moving average of $165.67. The firm has a market capitalization of $192.11 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.03 and a beta of 1.25. 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 one year low of $148.90 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results 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%. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.96%. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 45,964 shares of company stock valued at $7,583,661. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on QCOM. Barclays reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Melius initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Loop Capital initiated coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. Melius Research initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Finally, Morgan Stanley cut their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM 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.