New York State Teachers Retirement System Sells 33,080 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

New York State Teachers Retirement System cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,097,420 shares of the wireless technology company’s stock after selling 33,080 shares during the quarter. New York State Teachers Retirement System’s holdings in QUALCOMM were worth $186,616,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of QUALCOMM by 44.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 388,122 shares of the wireless technology company’s stock worth $65,709,000 after purchasing an additional 120,088 shares during the period. Financial Sense Advisors Inc. grew its holdings in shares of QUALCOMM by 2.7% during the first quarter. Financial Sense Advisors Inc. now owns 8,399 shares of the wireless technology company’s stock worth $1,422,000 after purchasing an additional 217 shares in the last quarter. Advisor Resource Council increased its position in shares of QUALCOMM by 14.8% in the first quarter. Advisor Resource Council now owns 7,360 shares of the wireless technology company’s stock worth $1,246,000 after purchasing an additional 950 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in QUALCOMM by 17.4% in the first quarter. First Trust Direct Indexing L.P. now owns 26,120 shares of the wireless technology company’s stock valued at $4,422,000 after purchasing an additional 3,872 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its position in QUALCOMM by 2.1% during the first quarter. Legacy Wealth Asset Management LLC now owns 5,841 shares of the wireless technology company’s stock valued at $989,000 after purchasing an additional 121 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Down 3.1 %

Shares of QUALCOMM stock traded down $5.41 during midday trading on Wednesday, reaching $170.59. 1,535,347 shares of the company’s stock traded hands, compared to its average volume of 8,930,295. The company has a market cap of $190.04 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. The stock has a 50 day moving average of $169.19 and a 200-day moving average of $182.17. QUALCOMM Incorporated has a 12 month low of $106.69 and a 12 month high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

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

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 1.99%. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

Insider Buying and Selling at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 completion of the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade 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 accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on QCOM shares. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their price target on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Wells Fargo & Company increased their price objective on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird boosted their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.