Kentucky Retirement Systems Has $11.76 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Kentucky Retirement Systems reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 76,553 shares of the wireless technology company’s stock after selling 1,054 shares during the quarter. Kentucky Retirement Systems’ holdings in QUALCOMM were worth $11,760,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM during the third quarter worth approximately $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $27,000. Planning Capital Management Corp boosted its holdings in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the period. Synergy Asset Management LLC bought a new position in QUALCOMM during the fourth quarter valued at approximately $38,000. Finally, Legacy Investment Solutions LLC bought a new position in QUALCOMM during the third quarter valued at approximately $39,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Ann C. Chaplin sold 7,717 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,239,273.03. Following the sale, the general counsel now owns 17,153 shares in the company, valued at approximately $2,754,600.27. The trade was a 31.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,964 shares of company stock worth $7,583,661 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 0.9 %

QCOM opened at $173.70 on Friday. QUALCOMM Incorporated has a fifty-two week low of $148.90 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm’s fifty day moving average price is $164.32 and its two-hundred day moving average price is $165.67. The company has a market capitalization of $192.11 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.03 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.96%. QUALCOMM’s dividend payout ratio is currently 36.32%.

Analyst Ratings Changes

QCOM has been the topic of several recent research reports. Evercore ISI cut their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Melius initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Barclays cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Susquehanna cut their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. 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 given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Company 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.