QUALCOMM Incorporated (NASDAQ:QCOM) Position Boosted by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 587,206 shares of the wireless technology company’s stock after purchasing an additional 5,288 shares during the quarter. Treasurer of the State of North Carolina’s holdings in QUALCOMM were worth $90,207,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Continuum Advisory LLC boosted its position in shares of QUALCOMM by 15.5% in the 3rd quarter. Continuum Advisory LLC now owns 3,342 shares of the wireless technology company’s stock valued at $548,000 after purchasing an additional 448 shares during the period. Brophy Wealth Management LLC purchased a new stake in shares of QUALCOMM in the 3rd quarter valued at approximately $431,000. TD Private Client Wealth LLC boosted its stake in QUALCOMM by 1.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 9,884 shares of the wireless technology company’s stock worth $1,681,000 after purchasing an additional 100 shares during the period. Rehmann Capital Advisory Group grew its position in QUALCOMM by 6.9% during the 3rd quarter. Rehmann Capital Advisory Group now owns 10,249 shares of the wireless technology company’s stock worth $1,744,000 after purchasing an additional 664 shares in the last quarter. Finally, Soltis Investment Advisors LLC raised its stake in QUALCOMM by 1,924.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 33,410 shares of the wireless technology company’s stock valued at $5,681,000 after purchasing an additional 31,760 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $143.59 on Thursday. The firm has a 50 day moving average of $157.89 and a 200-day moving average of $161.88. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $158.81 billion, a PE ratio of 15.34, a PEG ratio of 2.01 and a beta of 1.28.

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

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.37%. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the transaction, the chief financial officer now directly owns 57,728 shares of the company’s stock, valued at $7,568,140.80. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,018 shares of company stock worth $4,955,613. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of research reports. TD Cowen decreased their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday. Mizuho cut their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $202.64.

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.