Public Employees Retirement Association of Colorado Lowers Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Public Employees Retirement Association of Colorado decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,931 shares of the wireless technology company's stock after selling 5,800 shares during the period. Public Employees Retirement Association of Colorado's holdings in QUALCOMM were worth $22,879,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of QUALCOMM by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after acquiring an additional 707,468 shares during the period. Geode Capital Management LLC boosted its position in shares of QUALCOMM by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after acquiring an additional 670,432 shares during the period. Norges Bank bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $2,721,882,000. Amundi boosted its position in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in QUALCOMM by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company's stock valued at $1,485,575,000 after purchasing an additional 193,236 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Down 0.6 %

QCOM traded down $0.94 on Monday, hitting $147.62. The company had a trading volume of 5,732,406 shares, compared to its average volume of 8,885,013. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The stock has a fifty day simple moving average of $149.56 and a 200-day simple moving average of $159.22. The firm has a market capitalization of $163.27 billion, a P/E ratio of 15.77, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its 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 net margin of 25.94% and a return on equity of 39.51%. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.41%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is 38.03%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares of the company's stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now directly owns 63,115 shares of the company's stock, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock valued at $5,047,052 over the last 90 days. Corporate insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QCOM. Barclays dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Evercore ISI dropped their target price on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Benchmark reiterated a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. One equities 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 company. According to data from MarketBeat, QUALCOMM presently has an average rating of "Hold" and an average price target of $201.21.

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.