Public Employees Retirement System of Ohio Sells 13,254 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Public Employees Retirement System of Ohio decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 513,362 shares of the wireless technology company's stock after selling 13,254 shares during the period. Public Employees Retirement System of Ohio's holdings in QUALCOMM were worth $78,863,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. GTS Securities LLC raised its position in QUALCOMM by 131.2% in the fourth quarter. GTS Securities LLC now owns 52,589 shares of the wireless technology company's stock worth $8,079,000 after acquiring an additional 29,841 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $131,000. Vise Technologies Inc. lifted its stake in shares of QUALCOMM by 10.3% during the 4th quarter. Vise Technologies Inc. now owns 22,761 shares of the wireless technology company's stock valued at $3,497,000 after buying an additional 2,124 shares in the last quarter. Retirement Planning Group LLC lifted its stake in shares of QUALCOMM by 79.0% during the 4th quarter. Retirement Planning Group LLC now owns 2,512 shares of the wireless technology company's stock valued at $386,000 after buying an additional 1,109 shares in the last quarter. Finally, Investmark Advisory Group LLC lifted its stake in shares of QUALCOMM by 0.8% during the 4th quarter. Investmark Advisory Group LLC now owns 29,667 shares of the wireless technology company's stock valued at $4,558,000 after buying an additional 242 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $147.37 on Friday. The company's fifty day moving average price is $145.68 and its 200-day moving average price is $156.54. The firm has a market capitalization of $161.81 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. 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 (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.44 EPS. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued 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 2.42%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the transaction, the chief financial officer now owns 59,778 shares of the company's stock, valued at approximately $9,374,385.96. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This represents a 6.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,568 shares of company stock valued at $1,818,305. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on QCOM. Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday. Evercore ISI dropped their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Rosenblatt Securities restated a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Robert W. Baird dropped their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Wells Fargo & Company dropped their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $192.08.

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.

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