State of Alaska Department of Revenue Sells 18,928 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

State of Alaska Department of Revenue decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 203,940 shares of the wireless technology company’s stock after selling 18,928 shares during the quarter. State of Alaska Department of Revenue’s holdings in QUALCOMM were worth $31,328,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Nordea Investment Management AB raised its stake in shares of QUALCOMM by 39.7% during the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of QUALCOMM by 21.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after purchasing an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of QUALCOMM during the fourth quarter worth approximately $2,058,000. Burney Co. lifted its holdings in QUALCOMM by 665.6% during the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after purchasing an additional 127,722 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in QUALCOMM by 17.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after buying an additional 51,879 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QCOM stock opened at $175.86 on Thursday. The company has a market capitalization of $195.38 billion, a P/E ratio of 19.56, a PEG ratio of 2.87 and a beta of 1.25. The company has a fifty day moving average price of $161.31 and a 200-day moving average price of $165.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a 52-week low of $142.43 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.16 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.93%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is presently 37.82%.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of research reports. Citigroup dropped their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Evercore ISI boosted their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Wednesday, November 20th. Susquehanna reduced their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Finally, Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Buying and Selling at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,981 shares of company stock valued at $4,000,870. 0.08% of the stock is currently 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.