Treasurer of the State of North Carolina Increases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Treasurer of the State of North Carolina increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 587,206 shares of the wireless technology company’s stock after purchasing an additional 5,288 shares during the period. Treasurer of the State of North Carolina’s holdings in QUALCOMM were worth $90,207,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Legacy Financial Advisors Inc. increased its holdings in shares of QUALCOMM by 11.2% during the 4th quarter. Legacy Financial Advisors Inc. now owns 6,274 shares of the wireless technology company’s stock worth $964,000 after buying an additional 633 shares during the last quarter. Redwood Park Advisors LLC purchased a new position in QUALCOMM in the fourth quarter worth approximately $40,000. LSV Asset Management increased its stake in QUALCOMM by 15.1% during the fourth quarter. LSV Asset Management now owns 2,989,072 shares of the wireless technology company’s stock worth $459,181,000 after acquiring an additional 392,802 shares during the last quarter. Scotia Capital Inc. raised its position in QUALCOMM by 0.7% in the fourth quarter. Scotia Capital Inc. now owns 129,247 shares of the wireless technology company’s stock valued at $19,855,000 after purchasing an additional 890 shares during the period. Finally, F M Investments LLC lifted its stake in shares of QUALCOMM by 40.9% in the 4th quarter. F M Investments LLC now owns 11,278 shares of the wireless technology company’s stock valued at $1,733,000 after purchasing an additional 3,272 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Barclays reduced their price target 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. Benchmark reiterated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. TD Cowen decreased their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday. Evercore ISI dropped their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Hold” and a consensus target price of $202.64.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction dated 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alexander H. Rogers sold 19,287 shares of the 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 sale, the insider now directly 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,018 shares of company stock worth $4,955,613. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Up 15.2 %

QUALCOMM stock opened at $143.59 on Thursday. The firm has a market capitalization of $158.81 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth 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. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The stock’s fifty day moving average is $157.89 and its two-hundred day moving average is $161.88.

QUALCOMM (NASDAQ:QCOM) last released 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 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.37%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

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.