California State Teachers Retirement System Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

California State Teachers Retirement System lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,775,643 shares of the wireless technology company's stock after selling 36,243 shares during the period. California State Teachers Retirement System owned about 0.16% of QUALCOMM worth $272,774,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the 4th quarter valued at $26,000. CKW Financial Group acquired a new stake in QUALCOMM in the fourth quarter worth about $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM in the fourth quarter worth about $29,000. CoreFirst Bank & Trust acquired a new stake in QUALCOMM in the fourth quarter worth about $33,000. Finally, Synergy Asset Management LLC acquired a new stake in QUALCOMM in the fourth quarter worth about $38,000. Institutional investors own 74.35% of the company's stock.

Insider Activity

In related news, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares of the company's stock, valued at approximately $7,568,140.80. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,666 shares of company stock valued at $5,047,052. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of recent research reports. Citigroup dropped their target price on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Piper Sandler dropped their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Barclays dropped their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Finally, Evercore ISI dropped their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, QUALCOMM presently has a consensus rating of "Hold" and an average target price of $201.21.

QUALCOMM Stock Up 0.9 %

NASDAQ QCOM opened at $148.56 on Monday. The business has a fifty day moving average price of $150.11 and a 200 day moving average price of $159.37. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market cap of $164.31 billion, a P/E ratio of 15.87, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted 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 25.94% and a return on equity of 39.51%. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is currently 38.03%.

QUALCOMM Company 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.

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