QUALCOMM Incorporated $QCOM Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 657,043 shares of the wireless technology company’s stock after selling 9,726 shares during the quarter. Retirement Systems of Alabama’s holdings in QUALCOMM were worth $104,641,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock valued at $2,666,000 after buying an additional 9,343 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of QUALCOMM by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock valued at $391,000 after buying an additional 340 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of QUALCOMM by 24.8% in the first quarter. Golden State Wealth Management LLC now owns 4,457 shares of the wireless technology company’s stock valued at $685,000 after buying an additional 885 shares during the period. Ameritas Advisory Services LLC lifted its holdings in shares of QUALCOMM by 2.9% in the first quarter. Ameritas Advisory Services LLC now owns 12,228 shares of the wireless technology company’s stock valued at $1,878,000 after buying an additional 350 shares during the period. Finally, Clear Creek Financial Management LLC lifted its holdings in shares of QUALCOMM by 16.9% in the first quarter. Clear Creek Financial Management LLC now owns 3,099 shares of the wireless technology company’s stock valued at $476,000 after buying an additional 447 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Rosenblatt Securities restated a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a report on Tuesday. Weiss Ratings upgraded QUALCOMM from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Susquehanna boosted their target price on QUALCOMM from $190.00 to $200.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Finally, Arete raised QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.95.

Insider Activity

In related news, CAO Neil Martin sold 791 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $154.82, for a total transaction of $122,462.62. Following the transaction, the chief accounting officer directly owned 1,106 shares of the company’s stock, valued at approximately $171,230.92. The trade was a 41.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Cristiano R. Amon sold 150,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $165.56, for a total value of $24,834,000.00. Following the transaction, the chief executive officer directly owned 149,304 shares in the company, valued at $24,718,770.24. The trade was a 50.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 168,102 shares of company stock valued at $27,706,855 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 1.3%

Shares of QUALCOMM stock opened at $178.67 on Thursday. The stock’s fifty day moving average is $164.93 and its 200-day moving average is $156.11. The firm has a market capitalization of $192.78 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 2.63 and a beta of 1.23. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $205.95.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.06. The company had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.QUALCOMM’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.33 earnings per share. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 4th. QUALCOMM’s payout ratio is presently 34.33%.

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.