QUALCOMM Incorporated (NASDAQ:QCOM) Stake Lessened by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 407,091 shares of the wireless technology company’s stock after selling 2,892 shares during the period. State of New Jersey Common Pension Fund D’s holdings in QUALCOMM were worth $62,537,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Americana Partners LLC increased its stake in QUALCOMM by 17.1% during the fourth quarter. Americana Partners LLC now owns 12,477 shares of the wireless technology company’s stock valued at $1,917,000 after purchasing an additional 1,820 shares during the last quarter. Strategic Advisors LLC increased its stake in QUALCOMM by 21.7% during the fourth quarter. Strategic Advisors LLC now owns 6,202 shares of the wireless technology company’s stock valued at $953,000 after purchasing an additional 1,104 shares during the last quarter. Sierra Ocean LLC bought a new stake in QUALCOMM during the fourth quarter valued at $156,000. Pinnacle Wealth Management Advisory Group LLC increased its stake in QUALCOMM by 41.5% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 12,266 shares of the wireless technology company’s stock valued at $1,884,000 after purchasing an additional 3,595 shares during the last quarter. Finally, J.W. Cole Advisors Inc. increased its stake in QUALCOMM by 2.1% during the fourth quarter. J.W. Cole Advisors Inc. now owns 14,559 shares of the wireless technology company’s stock valued at $2,237,000 after purchasing an additional 297 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on QCOM. Sanford C. Bernstein boosted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Loop Capital assumed coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price target for the company. Melius Research assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Piper Sandler reduced their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One equities research 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $205.32.

Insider Activity

In related news, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly 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 47,268 shares of company stock worth $7,785,781 in the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM opened at $172.23 on Monday. The company has a market capitalization of $190.49 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 2.80 and a beta of 1.25. 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 1.79. The business’s 50-day moving average is $163.13 and its 200-day moving average is $165.49.

QUALCOMM (NASDAQ:QCOM) last issued its 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 net margin of 25.94% and a return on equity of 39.51%. Equities research analysts expect that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.97%. QUALCOMM’s dividend payout ratio is 36.32%.

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.