State of Tennessee Department of Treasury Sells 6,794 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

State of Tennessee Department of Treasury lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 384,780 shares of the wireless technology company’s stock after selling 6,794 shares during the period. State of Tennessee Department of Treasury’s holdings in QUALCOMM were worth $59,110,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of QCOM. Te Ahumairangi Investment Management Ltd boosted its stake in QUALCOMM by 60.9% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 37,551 shares of the wireless technology company’s stock worth $6,349,000 after purchasing an additional 14,213 shares in the last quarter. Anchor Investment Management LLC lifted its holdings in shares of QUALCOMM by 2.2% during the third quarter. Anchor Investment Management LLC now owns 34,700 shares of the wireless technology company’s stock worth $5,901,000 after purchasing an additional 747 shares during the period. World Investment Advisors LLC increased its holdings in QUALCOMM by 304.0% in the 3rd quarter. World Investment Advisors LLC now owns 45,166 shares of the wireless technology company’s stock worth $7,680,000 after buying an additional 33,985 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in QUALCOMM by 620.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 55,668 shares of the wireless technology company’s stock valued at $9,466,000 after acquiring an additional 47,945 shares during the period. Finally, Optimist Retirement Group LLC increased its stake in shares of QUALCOMM by 4.1% in the third quarter. Optimist Retirement Group LLC now owns 13,579 shares of the wireless technology company’s stock worth $2,309,000 after acquiring an additional 531 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

QUALCOMM stock opened at $136.54 on Monday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $153.10 and a 200 day moving average price of $160.28. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The stock has a market cap of $151.01 billion, a P/E ratio of 14.59, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced 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 return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on QCOM. Mizuho reduced their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $201.21.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 648 shares of QUALCOMM stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $141.11, for a total transaction of $91,439.28. Following the completion of the sale, the chief financial officer now directly owns 56,445 shares in the company, valued at $7,964,953.95. This trade represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,666 shares of company stock worth $5,047,052 over the last quarter. 0.08% of the stock is currently owned by company insiders.

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.