State of New Jersey Common Pension Fund D Lowers Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

State of New Jersey Common Pension Fund D cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 407,091 shares of the wireless technology company's stock after selling 2,892 shares during the period. State of New Jersey Common Pension Fund D's holdings in QUALCOMM were worth $62,537,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Paulson Wealth Management Inc. raised its stake in QUALCOMM by 2.2% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company's stock worth $475,000 after purchasing an additional 61 shares in the last quarter. Blossom Wealth Management raised its position 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 buying an additional 64 shares in the last quarter. Delta Financial Advisors LLC raised its position 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 buying an additional 65 shares in the last quarter. CFS Investment Advisory Services LLC raised its position 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 buying an additional 65 shares in the last quarter. Finally, Toth Financial Advisory Corp increased its position in QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock worth $336,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Rosenblatt Securities reissued a "buy" rating and set a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. JPMorgan Chase & Co. reduced their price objective 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. Evercore ISI reduced their price objective 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. UBS Group upped their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $205.32.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction 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 approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares of the company's stock, valued at $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,964 shares of company stock valued at $7,583,661 over the last three months. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

NASDAQ QCOM traded down $1.52 on Thursday, hitting $173.70. 6,309,748 shares of the stock traded hands, compared to its average volume of 7,640,596. The business's fifty day moving average is $164.01 and its two-hundred day moving average is $165.61. QUALCOMM Incorporated has a 12 month low of $148.90 and a 12 month high of $230.63. The firm has a market capitalization of $192.11 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 2.01 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.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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 anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Thursday, March 6th. QUALCOMM's payout ratio is currently 36.32%.

About QUALCOMM

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.