Public Employees Retirement Association of Colorado Sells 6,704 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Public Employees Retirement Association of Colorado decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 158,939 shares of the wireless technology company’s stock after selling 6,704 shares during the period. Public Employees Retirement Association of Colorado’s holdings in QUALCOMM were worth $26,908,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ceeto Capital Group LLC increased its position in shares of QUALCOMM by 40.4% during the 1st quarter. Ceeto Capital Group LLC now owns 8,000 shares of the wireless technology company’s stock valued at $1,354,000 after purchasing an additional 2,300 shares during the last quarter. Bellevue Group AG raised its position in QUALCOMM by 49.0% in the first quarter. Bellevue Group AG now owns 517 shares of the wireless technology company’s stock worth $88,000 after acquiring an additional 170 shares during the period. Manhattan West Asset Management LLC boosted its position in shares of QUALCOMM by 8.4% in the first quarter. Manhattan West Asset Management LLC now owns 22,044 shares of the wireless technology company’s stock worth $3,732,000 after purchasing an additional 1,702 shares during the period. BOKF NA increased its stake in shares of QUALCOMM by 3.1% in the first quarter. BOKF NA now owns 63,780 shares of the wireless technology company’s stock worth $10,952,000 after purchasing an additional 1,912 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its position in shares of QUALCOMM by 8.0% during the 1st quarter. Kestra Advisory Services LLC now owns 109,796 shares of the wireless technology company’s stock valued at $18,588,000 after purchasing an additional 8,097 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on QCOM. Cantor Fitzgerald boosted their price objective on QUALCOMM from $190.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. TD Cowen lifted their price objective on shares of QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Mizuho upped their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Morgan Stanley upped their price objective on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company raised their price target on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.63.

Insider Buying and Selling at QUALCOMM

In other news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock valued at $8,552,835 over the last quarter. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

Shares of QCOM traded down $0.84 during mid-day trading on Monday, reaching $179.21. The company had a trading volume of 3,232,176 shares, compared to its average volume of 9,145,465. The stock has a market capitalization of $200.00 billion, a P/E ratio of 24.19, a PEG ratio of 2.19 and a beta of 1.27. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The stock has a 50 day moving average of $204.19 and a two-hundred day moving average of $177.53. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, analysts expect that QUALCOMM Incorporated will post 7.84 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.90%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

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.