Arizona State Retirement System Grows Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Arizona State Retirement System grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 322,784 shares of the wireless technology company’s stock after acquiring an additional 2,819 shares during the period. Arizona State Retirement System’s holdings in QUALCOMM were worth $49,586,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM in the fourth quarter worth about $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the 4th quarter valued at $29,000. Planning Capital Management Corp increased its stake in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the period. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

QCOM has been the topic of several recent research reports. Morgan Stanley dropped their target price 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. Wells Fargo & Company boosted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Loop Capital initiated coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. Melius Research started coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $205.32.

Insider Buying and Selling at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,045 shares of company stock worth $8,237,043 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $154.46 on Wednesday. The business’s 50 day moving average is $164.75 and its two-hundred day moving average is $165.34. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The company has a market capitalization of $170.83 billion, a P/E ratio of 16.50, a P/E/G ratio of 2.01 and a beta of 1.25. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly 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%. Analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

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.