Teachers Retirement System of The State of Kentucky Acquires 22,876 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Teachers Retirement System of The State of Kentucky lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 453,912 shares of the wireless technology company's stock after buying an additional 22,876 shares during the period. QUALCOMM makes up 0.6% of Teachers Retirement System of The State of Kentucky's holdings, making the stock its 19th largest position. Teachers Retirement System of The State of Kentucky's holdings in QUALCOMM were worth $69,726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Eagle Strategies LLC grew its position in QUALCOMM by 4.3% during the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after buying an additional 59 shares in the last quarter. Clark Capital Management Group Inc. grew its position in QUALCOMM by 3.6% during the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after buying an additional 59 shares in the last quarter. Umpqua Bank grew its position in QUALCOMM by 4.2% during the fourth quarter. Umpqua Bank now owns 1,653 shares of the wireless technology company's stock worth $264,000 after buying an additional 67 shares in the last quarter. Twin City Private Wealth LLC grew its position in QUALCOMM by 1.4% during the fourth quarter. Twin City Private Wealth LLC now owns 4,909 shares of the wireless technology company's stock worth $754,000 after buying an additional 67 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its stake in QUALCOMM by 2.1% during the fourth quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company's stock worth $509,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

QUALCOMM Trading Up 2.7%

QUALCOMM stock traded up $4.17 during trading hours on Monday, reaching $158.97. 7,656,576 shares of the company's stock were exchanged, compared to its average volume of 8,477,201. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The firm's 50 day simple moving average is $153.95 and its 200 day simple moving average is $154.99. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $196.24. The firm has a market capitalization of $174.55 billion, a PE ratio of 16.19, a PEG ratio of 1.99 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business's revenue was up 17.0% compared to the same quarter last year. During the same period last year, the business posted $2.44 EPS. Research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.24%. QUALCOMM's dividend payout ratio is presently 36.25%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on QCOM. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Wells Fargo & Company cut their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Citigroup restated a "hold" rating on shares of QUALCOMM in a research note on Thursday. Evercore ISI dropped their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $184.86.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider directly owned 22,793 shares in the company, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock worth $8,310,735 in the last three months. Company insiders own 0.08% of the company's stock.

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.