Retirement Systems of Alabama Has $108.26 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Retirement Systems of Alabama reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 748,494 shares of the wireless technology company's stock after selling 7,044 shares during the period. Retirement Systems of Alabama owned approximately 0.07% of QUALCOMM worth $108,255,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Financial Gravity Asset Management Inc. boosted its holdings in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 122 shares in the last quarter. Legacy Financial Group LLC purchased a new stake in shares of QUALCOMM in the third quarter valued at about $29,000. Fortitude Family Office LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $35,000. Cranbrook Wealth Management LLC boosted its holdings in shares of QUALCOMM by 68.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company's stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. boosted its holdings in shares of QUALCOMM by 184.3% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company's stock valued at $37,000 after acquiring an additional 163,963 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Mizuho boosted their price objective on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, February 1st. Citigroup downgraded shares of QUALCOMM from a "buy" rating to a "neutral" rating and set a $160.00 price objective on the stock. in a report on Thursday, February 1st. Cantor Fitzgerald boosted their price objective on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, April 8th. Evercore ISI assumed coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They set an "in-line" rating and a $177.00 price objective on the stock. Finally, Barclays boosted their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an "overweight" rating in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, QUALCOMM has a consensus rating of "Moderate Buy" and an average target price of $158.86.

QUALCOMM Trading Up 1.4 %

QCOM stock traded up $2.36 on Friday, hitting $165.66. 7,141,339 shares of the company were exchanged, compared to its average volume of 6,691,146. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The business's fifty day moving average is $165.84 and its two-hundred day moving average is $144.94. The stock has a market capitalization of $184.88 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. As a group, research analysts forecast that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This is an increase from QUALCOMM's previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.05%. The ex-dividend date is Thursday, May 30th. QUALCOMM's payout ratio is currently 49.28%.

Insiders Place Their Bets

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the business's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Cristiano R. Amon sold 8,100 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 371 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares of the company's stock, valued at $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 over the last ninety days. 0.08% of the stock is owned by company insiders.

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.