California State Teachers Retirement System Sells 36,243 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

California State Teachers Retirement System reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,775,643 shares of the wireless technology company's stock after selling 36,243 shares during the period. California State Teachers Retirement System owned about 0.16% of QUALCOMM worth $272,774,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp grew its position in shares of QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after buying an additional 1,493,076 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in QUALCOMM by 1.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 868,269 shares of the wireless technology company's stock worth $133,383,000 after acquiring an additional 15,992 shares during the period. Mendel Capital Management LLC boosted its holdings in QUALCOMM by 1.6% in the fourth quarter. Mendel Capital Management LLC now owns 6,492 shares of the wireless technology company's stock valued at $997,000 after acquiring an additional 103 shares in the last quarter. Shorepoint Capital Partners LLC boosted its holdings in QUALCOMM by 1.9% in the fourth quarter. Shorepoint Capital Partners LLC now owns 36,685 shares of the wireless technology company's stock valued at $5,636,000 after acquiring an additional 692 shares in the last quarter. Finally, Mission Creek Capital Partners Inc. increased its position in QUALCOMM by 12.0% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 25,993 shares of the wireless technology company's stock valued at $3,993,000 after purchasing an additional 2,778 shares during the period. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $1.58 during mid-day trading on Wednesday, reaching $148.46. The company's stock had a trading volume of 10,658,169 shares, compared to its average volume of 8,901,031. The firm's fifty day moving average price is $149.02 and its two-hundred day moving average price is $159.13. 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 cap of $164.20 billion, a P/E ratio of 15.86, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.40%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is presently 38.03%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the company's stock in a transaction dated Friday, February 21st. The stock was 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 in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,666 shares of company stock worth $5,047,052. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on QCOM shares. Benchmark reaffirmed a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Piper Sandler cut their price objective on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a research report on Tuesday. Evercore ISI dropped their price target on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $200.86.

QUALCOMM Company 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.