Illinois Municipal Retirement Fund Has $25.23 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Illinois Municipal Retirement Fund increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 13.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,420 shares of the wireless technology company's stock after buying an additional 20,025 shares during the quarter. Illinois Municipal Retirement Fund's holdings in QUALCOMM were worth $25,226,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. boosted its holdings in shares of QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $35,000. Cranbrook Wealth Management LLC boosted its holdings in shares of QUALCOMM by 68.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company's stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Legacy Financial Group LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at $29,000. Finally, Buck Wealth Strategies LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Ratings Changes

QCOM has been the subject of a number of research reports. Barclays increased their price target on QUALCOMM from $140.00 to $155.00 and gave the company an "overweight" rating in a research note on Tuesday, January 16th. Citigroup cut QUALCOMM from a "buy" rating to a "neutral" rating and set a $160.00 price target for the company. in a research note on Thursday, February 1st. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 7th. KeyCorp increased their price target on QUALCOMM from $180.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, April 8th. Finally, Rosenblatt Securities increased their price target on QUALCOMM from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $156.90.

QUALCOMM Trading Up 1.6 %

Shares of QCOM stock traded up $2.55 during mid-day trading on Monday, hitting $160.18. The company's stock had a trading volume of 7,847,503 shares, compared to its average volume of 8,626,261. The company's fifty day simple moving average is $165.01 and its 200-day simple moving average is $143.47. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The company has a market cap of $178.76 billion, a PE ratio of 23.21, a P/E/G ratio of 2.15 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. As a group, equities research analysts expect that QUALCOMM Incorporated will post 7.69 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from QUALCOMM's previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. QUALCOMM's dividend payout ratio (DPR) is currently 46.38%.

Insider Activity

In other news, CAO Neil Martin sold 371 shares of the firm's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the transaction, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company's stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock worth $5,973,728 in the last three months. Company insiders own 0.08% of the company's stock.

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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