QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.2% in the third quarter, HoldingsChannel.com reports. The firm owned 676,690 shares of the wireless technology company’s stock after selling 44,743 shares during the period. Retirement Systems of Alabama’s holdings in QUALCOMM were worth $115,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Oddo BHF Asset Management Sas acquired a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $344,000. Franklin Resources Inc. grew its stake in QUALCOMM by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock worth $1,213,023,000 after buying an additional 110,828 shares during the last quarter. Synovus Financial Corp increased its position in QUALCOMM by 8.2% in the third quarter. Synovus Financial Corp now owns 54,680 shares of the wireless technology company’s stock worth $9,299,000 after buying an additional 4,129 shares during the period. Optimist Retirement Group LLC increased its holdings in shares of QUALCOMM by 4.1% in the 3rd quarter. Optimist Retirement Group LLC now owns 13,579 shares of the wireless technology company’s stock worth $2,309,000 after acquiring an additional 531 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its holdings in shares of QUALCOMM by 620.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 55,668 shares of the wireless technology company’s stock valued at $9,466,000 after buying an additional 47,945 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM opened at $158.58 on Friday. The firm has a market capitalization of $176.18 billion, a P/E ratio of 17.60, a PEG ratio of 2.68 and a beta of 1.25. The stock has a fifty day moving average of $165.18 and a 200-day moving average of $178.37. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12-month low of $134.94 and a 12-month high of $230.63.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.14%. QUALCOMM’s payout ratio is presently 37.82%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on QCOM shares. Loop Capital initiated coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. Citigroup lowered their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Sanford C. Bernstein upped their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Benchmark reissued a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. Finally, Melius began coverage on shares of QUALCOMM in a research note on Monday. They issued a “hold” rating and a $180.00 price target for the company. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

Insider Buying and Selling at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, 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. Insiders have sold a total of 38,540 shares of company stock valued at $6,300,999 in the last 90 days. 0.08% of the stock is currently owned by corporate 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.