Public Sector Pension Investment Board Has $8.60 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Public Sector Pension Investment Board lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 75.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,177 shares of the wireless technology company’s stock after purchasing an additional 18,577 shares during the quarter. Public Sector Pension Investment Board’s holdings in QUALCOMM were worth $8,600,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the first quarter valued at $27,000. Financial Connections Group Inc. bought a new stake in QUALCOMM in the second quarter valued at $32,000. Aspect Partners LLC grew its position in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the period. Richardson Capital Management LLC bought a new stake in QUALCOMM in the first quarter valued at $37,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in QUALCOMM in the fourth quarter valued at $39,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,000 shares of company stock valued at $3,496,590. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 1.8 %

QCOM stock opened at $165.96 on Tuesday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The business has a 50 day moving average price of $171.68 and a two-hundred day moving average price of $182.19. The company has a market cap of $185.21 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 1.82 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results 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 business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Analysts anticipate that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.05%. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Cantor Fitzgerald restated a “neutral” rating and set a $215.00 target price on shares of QUALCOMM in a report on Thursday, August 1st. Susquehanna increased their target price on QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Barclays raised their price target on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.67.

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.