QUALCOMM Incorporated (NASDAQ:QCOM) Stake Lowered by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,700 shares of the wireless technology company’s stock after selling 4,300 shares during the period. QUALCOMM accounts for about 0.5% of Louisiana State Employees Retirement System’s investment portfolio, making the stock its 24th biggest holding. Louisiana State Employees Retirement System’s holdings in QUALCOMM were worth $25,116,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Outlook Wealth Advisors LLC lifted its stake in shares of QUALCOMM by 5.0% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 4,391 shares of the wireless technology company’s stock valued at $747,000 after purchasing an additional 210 shares during the last quarter. Allworth Financial LP lifted its position in QUALCOMM by 44.7% during the 3rd quarter. Allworth Financial LP now owns 58,565 shares of the wireless technology company’s stock worth $9,959,000 after acquiring an additional 18,102 shares during the last quarter. CWC Advisors LLC. acquired a new position in QUALCOMM during the 3rd quarter worth $1,387,000. Country Club Bank lifted its position in QUALCOMM by 1.9% during the 3rd quarter. Country Club Bank now owns 6,760 shares of the wireless technology company’s stock worth $1,150,000 after acquiring an additional 123 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its position in QUALCOMM by 2.0% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 4,620 shares of the wireless technology company’s stock worth $786,000 after acquiring an additional 91 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the 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 sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $170.27 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock has a market cap of $189.68 billion, a P/E ratio of 22.06, a PEG ratio of 1.74 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company’s 50-day simple moving average is $169.16 and its 200 day simple moving average is $182.03.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, research analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.00%. QUALCOMM’s dividend payout ratio is 44.04%.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research analyst reports. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Cantor Fitzgerald cut their price objective on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, October 8th. Finally, HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $207.92.

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.