Kentucky Retirement Systems Sells 504 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Kentucky Retirement Systems decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,248 shares of the wireless technology company’s stock after selling 504 shares during the period. Kentucky Retirement Systems’ holdings in QUALCOMM were worth $16,781,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in QCOM. Sienna Gestion bought a new position in shares of QUALCOMM during the 2nd quarter valued at about $8,387,000. Blair William & Co. IL grew its holdings in QUALCOMM by 11.7% during the 2nd quarter. Blair William & Co. IL now owns 371,279 shares of the wireless technology company’s stock valued at $73,951,000 after buying an additional 38,923 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of QUALCOMM by 16.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 99,181 shares of the wireless technology company’s stock valued at $19,630,000 after acquiring an additional 13,869 shares during the last quarter. Tredje AP fonden raised its stake in QUALCOMM by 11.5% during the second quarter. Tredje AP fonden now owns 133,343 shares of the wireless technology company’s stock valued at $26,559,000 after purchasing an additional 13,700 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in QUALCOMM by 7.3% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 82,649 shares of the wireless technology company’s stock valued at $16,462,000 after purchasing an additional 5,616 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QCOM stock opened at $168.30 on Thursday. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The business has a 50-day moving average price of $173.71 and a 200 day moving average price of $182.05. The company has a market capitalization of $187.82 billion, a P/E ratio of 22.62, a PEG ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.02%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 3rd. Mizuho upped their price objective on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Bank of America boosted their target price on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $211.67.

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.