Kentucky Retirement Systems Insurance Trust Fund Buys 26,845 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Kentucky Retirement Systems Insurance Trust Fund grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 81.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,828 shares of the wireless technology company's stock after purchasing an additional 26,845 shares during the quarter. QUALCOMM comprises approximately 0.8% of Kentucky Retirement Systems Insurance Trust Fund's portfolio, making the stock its 22nd largest holding. Kentucky Retirement Systems Insurance Trust Fund's holdings in QUALCOMM were worth $9,191,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Paulson Wealth Management Inc. boosted its position in QUALCOMM by 2.2% during the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company's stock worth $475,000 after acquiring an additional 61 shares during the last quarter. Blossom Wealth Management boosted its holdings in shares of QUALCOMM by 2.6% in the 3rd quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company's stock valued at $434,000 after purchasing an additional 64 shares during the last quarter. Delta Financial Advisors LLC boosted its holdings in shares of QUALCOMM by 2.1% in the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company's stock valued at $548,000 after purchasing an additional 65 shares during the last quarter. CFS Investment Advisory Services LLC boosted its holdings in shares of QUALCOMM by 1.1% in the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company's stock valued at $929,000 after purchasing an additional 65 shares during the last quarter. Finally, Toth Financial Advisory Corp boosted its holdings in shares of QUALCOMM by 3.1% in the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock valued at $336,000 after purchasing an additional 65 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 4.8 %

Shares of NASDAQ:QCOM traded down $8.27 during midday trading on Friday, hitting $165.43. 12,520,589 shares of the stock were exchanged, compared to its average volume of 7,784,163. The stock has a market capitalization of $182.97 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 2.03 and a beta of 1.25. 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 business's 50-day moving average price is $164.46 and its 200 day moving average price is $165.72. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results 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%. Analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's payout ratio is 36.32%.

Analyst Ratings Changes

A number of brokerages have weighed in on QCOM. Melius initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 price target on the stock. Morgan Stanley cut their target price on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating on the stock in a research note on Thursday, November 7th. Evercore ISI cut their target price on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research note on Thursday, February 6th. Barclays cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $205.32.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares of the company's stock, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company's stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 46,708 shares of company stock valued at $7,713,734. 0.08% of the stock is owned by insiders.

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.