California Public Employees Retirement System Has $538.57 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

California Public Employees Retirement System boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,505,858 shares of the wireless technology company’s stock after buying an additional 53,573 shares during the period. California Public Employees Retirement System owned about 0.32% of QUALCOMM worth $538,570,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $26,000. CKW Financial Group acquired a new stake in QUALCOMM during the 4th quarter valued at $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $29,000. CoreFirst Bank & Trust acquired a new stake in shares of QUALCOMM in the fourth quarter worth $33,000. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Barclays decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Melius Research began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Melius assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Finally, Evercore ISI dropped their price target 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. One 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’s stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $152.72 on Friday. The company’s fifty day moving average is $164.16 and its two-hundred day moving average is $163.84. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. 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 firm has a market capitalization of $168.91 billion, a price-to-earnings ratio of 16.32, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were given a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.23%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 744 shares of QUALCOMM 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 sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock worth $4,685,077 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

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.