Illinois Municipal Retirement Fund Sells 8,769 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Illinois Municipal Retirement Fund cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 147,576 shares of the wireless technology company’s stock after selling 8,769 shares during the quarter. QUALCOMM comprises 0.4% of Illinois Municipal Retirement Fund’s holdings, making the stock its 28th biggest position. Illinois Municipal Retirement Fund’s holdings in QUALCOMM were worth $29,394,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. WFA Asset Management Corp bought a new stake in shares of QUALCOMM during the first quarter worth $27,000. Financial Connections Group Inc. acquired a new position in QUALCOMM in the 2nd quarter worth $32,000. Aspect Partners LLC increased its holdings in QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares in the last quarter. McClarren Financial Advisors Inc. raised its stake in shares of 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 purchasing an additional 60 shares during the period. Finally, First Pacific Financial bought a new stake in shares of QUALCOMM in the second quarter valued at about $40,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on QCOM shares. Wells Fargo & Company increased their price objective on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Rosenblatt Securities lifted their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Susquehanna boosted their price objective on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Bank of America boosted their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

QUALCOMM Stock Performance

QUALCOMM stock traded down $5.51 during trading hours on Friday, hitting $158.19. The company had a trading volume of 10,703,047 shares, compared to its average volume of 9,279,430. The firm has a market cap of $176.22 billion, a PE ratio of 21.26, a PEG ratio of 1.93 and a beta of 1.28. The firm has a 50-day moving average of $179.95 and a 200 day moving average of $181.35. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted 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 return on equity of 38.12% and a net margin of 23.32%. On average, sell-side analysts expect that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insiders Place Their Bets

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

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.