State of Alaska Department of Revenue Sells 18,928 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

State of Alaska Department of Revenue cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 203,940 shares of the wireless technology company’s stock after selling 18,928 shares during the period. State of Alaska Department of Revenue’s holdings in QUALCOMM were worth $31,328,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of QCOM. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM during the 3rd quarter valued at $26,000. CKW Financial Group bought a new position in QUALCOMM during the fourth quarter valued at about $27,000. Planning Capital Management Corp increased its holdings in QUALCOMM by 137.3% during the third 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 last quarter. Accordant Advisory Group Inc bought a new stake in QUALCOMM in the third quarter worth about $36,000. Finally, Synergy Asset Management LLC purchased a new position in QUALCOMM in the fourth quarter valued at about $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citigroup decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Evercore ISI upped their price target on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Mizuho decreased their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Loop Capital initiated coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. Finally, UBS Group lifted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Activity

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 7,717 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the completion of the transaction, the general counsel now owns 17,153 shares of the company’s stock, valued at $2,754,600.27. This represents a 31.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,981 shares of company stock valued at $4,000,870. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.6 %

QCOM opened at $175.86 on Thursday. The business’s fifty day simple moving average is $161.31 and its 200 day simple moving average is $165.95. QUALCOMM Incorporated has a 52 week low of $142.43 and a 52 week high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The stock has a market cap of $195.38 billion, a PE ratio of 19.56, a P/E/G ratio of 2.87 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, research analysts expect that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.93%. QUALCOMM’s payout ratio is 37.82%.

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.