QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky increased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 16.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 431,036 shares of the wireless technology company's stock after acquiring an additional 59,352 shares during the period. QUALCOMM makes up about 0.6% of Teachers Retirement System of The State of Kentucky's investment portfolio, making the stock its 21st biggest position. Teachers Retirement System of The State of Kentucky's holdings in QUALCOMM were worth $66,216,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM in the 4th quarter valued at approximately $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM in the fourth quarter worth $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 during the fourth quarter valued at $33,000. Finally, Synergy Asset Management LLC purchased a new stake in QUALCOMM during the 4th quarter worth about $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on QCOM. Barclays reduced their target price 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. Benchmark restated a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Mizuho decreased their price objective on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. Finally, Piper Sandler dropped their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $201.21.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 744 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This trade 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 Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction on 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 sale, the insider now 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 30,666 shares of company stock valued at $5,047,052 in the last quarter. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

QUALCOMM stock opened at $136.54 on Friday. The stock has a market cap of $151.01 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The stock has a 50 day moving average of $153.10 and a 200-day moving average of $160.34. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63.

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

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.

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