VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Stake in QUALCOMM Incorporated $QCOM

Key Points

• Virginia Retirement Systems acquired a new stake in QUALCOMM, purchasing 374,629 shares valued at approximately $59.7 million during the 2nd quarter.
• QUALCOMM's CEO, Cristiano Amon, sold 150,000 shares of stock on October 1, resulting in a 50.12% decrease in his ownership.
• The company recently announced a quarterly dividend of $0.89, set to be paid on December 18, 2023, with an annualized yield of 2.2%.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 374,629 shares of the wireless technology company's stock, valued at approximately $59,663,000.

A number of other institutional investors have also recently made changes to their positions in QCOM. Capital Advantage Inc. increased its position in QUALCOMM by 2.8% during the 2nd quarter. Capital Advantage Inc. now owns 2,353 shares of the wireless technology company's stock valued at $375,000 after purchasing an additional 64 shares during the period. Rise Advisors LLC boosted its stake in shares of QUALCOMM by 6.7% in the 1st quarter. Rise Advisors LLC now owns 1,048 shares of the wireless technology company's stock valued at $161,000 after purchasing an additional 66 shares during the last quarter. Bell Investment Advisors Inc increased its position in shares of QUALCOMM by 4.6% during the first quarter. Bell Investment Advisors Inc now owns 1,504 shares of the wireless technology company's stock worth $231,000 after buying an additional 66 shares during the period. Collaborative Wealth Managment Inc. increased its position in shares of QUALCOMM by 5.1% during the first quarter. Collaborative Wealth Managment Inc. now owns 1,412 shares of the wireless technology company's stock worth $217,000 after buying an additional 69 shares during the period. Finally, Thoroughbred Financial Services LLC raised its stake in QUALCOMM by 0.3% during the first quarter. Thoroughbred Financial Services LLC now owns 25,254 shares of the wireless technology company's stock worth $3,879,000 after buying an additional 69 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In other news, CEO Cristiano R. Amon sold 150,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $165.56, for a total value of $24,834,000.00. Following the transaction, the chief executive officer owned 149,304 shares in the company, valued at $24,718,770.24. This trade represents a 50.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Patricia Y. Grech sold 273 shares of the company's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $161.42, for a total value of $44,067.66. Following the sale, the chief accounting officer owned 404 shares of the company's stock, valued at $65,213.68. This trade represents a 40.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,767 shares of company stock worth $26,322,745 in the last 90 days. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Down 0.4%

Shares of NASDAQ:QCOM opened at $163.45 on Friday. The firm has a market cap of $176.36 billion, a P/E ratio of 15.76, a PEG ratio of 2.38 and a beta of 1.23. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $182.10. The business's 50 day simple moving average is $162.00 and its two-hundred day simple moving average is $153.74. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The company had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the firm earned $2.33 earnings per share. QUALCOMM's revenue for the quarter was up 10.4% on a year-over-year basis. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, December 4th. QUALCOMM's dividend payout ratio is currently 34.33%.

Analyst Ratings Changes

A number of analysts have commented on QCOM shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, July 31st. Sanford C. Bernstein set a $185.00 target price on QUALCOMM and gave the company an "outperform" rating in a research report on Monday, July 28th. Arete raised QUALCOMM from a "neutral" rating to a "buy" rating and set a $200.00 target price for the company in a research note on Tuesday, August 26th. Citigroup reissued a "hold" rating on shares of QUALCOMM in a research note on Thursday, July 17th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of QUALCOMM in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $182.82.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.