New York State Teachers Retirement System Decreases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

New York State Teachers Retirement System lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,053,788 shares of the wireless technology company’s stock after selling 43,632 shares during the period. New York State Teachers Retirement System owned 0.09% of QUALCOMM worth $161,883,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Creative Planning raised its holdings in shares of QUALCOMM by 0.5% during the third quarter. Creative Planning now owns 403,811 shares of the wireless technology company’s stock worth $68,147,000 after purchasing an additional 2,086 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of QUALCOMM by 0.8% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 29,992 shares of the wireless technology company’s stock worth $5,100,000 after purchasing an additional 246 shares during the last quarter. Wolff Wiese Magana LLC raised its holdings in shares of QUALCOMM by 1.1% during the third quarter. Wolff Wiese Magana LLC now owns 16,375 shares of the wireless technology company’s stock worth $2,785,000 after purchasing an additional 184 shares during the last quarter. Paragon Capital Management Inc. raised its holdings in shares of QUALCOMM by 64.4% during the third quarter. Paragon Capital Management Inc. now owns 4,280 shares of the wireless technology company’s stock worth $728,000 after purchasing an additional 1,677 shares during the last quarter. Finally, Twelve Points Wealth Management LLC increased its holdings in QUALCOMM by 2.2% in the third quarter. Twelve Points Wealth Management LLC now owns 13,381 shares of the wireless technology company’s stock valued at $2,275,000 after buying an additional 285 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on QCOM. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. UBS Group lifted their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Morgan Stanley cut their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Melius began coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Finally, Wells Fargo & Company lifted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Trading Up 1.1 %

NASDAQ QCOM opened at $172.15 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52 week low of $148.90 and a 52 week high of $230.63. The stock has a market capitalization of $190.40 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The firm has a 50 day moving average of $162.64 and a two-hundred day moving average of $165.50.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, research analysts expect that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now owns 48,778 shares in the company, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,268 shares of company stock worth $7,785,781. Corporate insiders own 0.08% of the company’s stock.

About QUALCOMM

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.