Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 6,275 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 236,232 shares of the wireless technology company’s stock after selling 6,275 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in QUALCOMM were worth $36,290,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp increased its holdings in QUALCOMM by 1.7% in the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after buying an additional 870,814 shares during the period. Geode Capital Management LLC increased its holdings in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after buying an additional 1,989,725 shares during the period. Amundi boosted its stake in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of QUALCOMM by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company’s stock valued at $1,485,575,000 after purchasing an additional 193,236 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of QUALCOMM by 6.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after purchasing an additional 498,284 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. The trade was a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $158.26 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a market cap of $175.04 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The stock has a 50-day moving average of $164.54 and a 200-day moving average of $164.15. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 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, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. QUALCOMM’s payout ratio is 36.32%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Mizuho reduced their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Evercore ISI reduced their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Piper Sandler reduced their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Melius Research started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.32.

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.