Teachers Retirement System of The State of Kentucky Has $74.57 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 374,409 shares of the wireless technology company’s stock after selling 42,600 shares during the quarter. QUALCOMM makes up about 0.7% of Teachers Retirement System of The State of Kentucky’s holdings, making the stock its 15th biggest position. Teachers Retirement System of The State of Kentucky’s holdings in QUALCOMM were worth $74,574,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of QCOM. HWG Holdings LP acquired a new position in QUALCOMM in the 2nd quarter valued at $30,000. WFA Asset Management Corp acquired a new position in QUALCOMM in the 1st quarter valued at $27,000. Financial Connections Group Inc. acquired a new position in QUALCOMM in the 2nd quarter valued at $32,000. Aspect Partners LLC grew its stake in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the last quarter. Finally, McClarren Financial Advisors Inc. grew its stake in QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’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 sale, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred 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 of the company’s stock, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 0.0 %

Shares of QUALCOMM stock opened at $170.05 on Tuesday. The stock has a market capitalization of $189.78 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. 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 company has a 50-day simple moving average of $169.16 and a 200 day simple moving average of $182.16. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 23.32% and a return on equity of 38.12%. Research analysts expect that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Citigroup increased their price target on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Wells Fargo & Company increased their price target on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Finally, KeyCorp increased their price target on shares of QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock 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.