Maryland State Retirement & Pension System Lowers Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Maryland State Retirement & Pension System lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 6.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,103 shares of the wireless technology company's stock after selling 4,305 shares during the quarter. Maryland State Retirement & Pension System's holdings in QUALCOMM were worth $9,233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Xponance Inc. boosted its position in QUALCOMM by 1.9% during the 4th quarter. Xponance Inc. now owns 286,752 shares of the wireless technology company's stock worth $44,051,000 after acquiring an additional 5,236 shares during the last quarter. Generali Asset Management SPA SGR acquired a new position in QUALCOMM during the fourth quarter valued at approximately $12,302,000. Evoke Wealth LLC boosted its position in QUALCOMM by 1.3% during the fourth quarter. Evoke Wealth LLC now owns 21,073 shares of the wireless technology company's stock valued at $3,237,000 after purchasing an additional 272 shares during the last quarter. Brooktree Capital Management boosted its position in QUALCOMM by 1.3% during the fourth quarter. Brooktree Capital Management now owns 40,026 shares of the wireless technology company's stock valued at $6,149,000 after purchasing an additional 517 shares during the last quarter. Finally, Clarity Wealth Development LLC acquired a new position in QUALCOMM during the fourth quarter valued at approximately $186,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was 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 owns 20,762 shares of the company's stock, valued at $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 SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares of the company's stock, valued at approximately $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is currently owned by company insiders.

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QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $1.13 during midday trading on Friday, hitting $156.82. 10,940,080 shares of the company traded hands, compared to its average volume of 8,238,854. The stock has a market cap of $173.44 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 2.01 and a beta of 1.28. 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 firm's fifty day moving average price is $164.51 and its 200-day moving average price is $163.98. 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 quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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 forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is currently 36.32%.

Analyst Ratings Changes

QCOM has been the subject of several recent research reports. Rosenblatt Securities reissued a "buy" rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Melius Research initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 target price for the company. Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 target price for the company. Piper Sandler cut their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Finally, Benchmark restated a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $205.32.

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.