QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Lifted by California Public Employees Retirement System

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

Other large investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM during the fourth quarter valued at $26,000. CKW Financial Group bought a new position in QUALCOMM in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM during the 4th quarter worth about $29,000. CoreFirst Bank & Trust purchased a new position in QUALCOMM during the fourth quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC bought a new stake in QUALCOMM during the fourth quarter valued at about $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on QCOM. Mizuho reduced their target price on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Evercore ISI dropped their price target on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. Barclays reduced their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Cantor Fitzgerald restated a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $205.32.

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QUALCOMM Stock Performance

QUALCOMM stock traded up $0.89 during mid-day trading on Monday, reaching $153.61. 8,610,780 shares of the stock traded hands, compared to its average volume of 8,605,370. 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 capitalization of $169.89 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $147.99 and a 12-month high of $230.63. The business's 50-day moving average is $164.16 and its 200-day moving average is $163.82.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were paid a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.21%. QUALCOMM's dividend payout ratio is presently 36.32%.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares of the company's stock, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock valued at $4,685,077 in the last three months. 0.08% of the stock is currently owned by company insiders.

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.