QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Raised by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 322,257 shares of the wireless technology company’s stock after purchasing an additional 2,482 shares during the quarter. State of Alaska Department of Revenue’s holdings in QUALCOMM were worth $35,427,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of QCOM. Pin Oak Investment Advisors Inc. grew its position in QUALCOMM by 26.7% in the second quarter. Pin Oak Investment Advisors Inc. now owns 337 shares of the wireless technology company’s stock valued at $43,000 after acquiring an additional 71 shares during the period. Birchcreek Wealth Management LLC grew its position in QUALCOMM by 4.3% in the second quarter. Birchcreek Wealth Management LLC now owns 1,797 shares of the wireless technology company’s stock valued at $230,000 after acquiring an additional 74 shares during the period. Certified Advisory Corp grew its position in QUALCOMM by 0.7% in the first quarter. Certified Advisory Corp now owns 11,582 shares of the wireless technology company’s stock valued at $1,770,000 after acquiring an additional 79 shares during the period. Probity Advisors Inc. grew its position in QUALCOMM by 3.9% in the second quarter. Probity Advisors Inc. now owns 2,085 shares of the wireless technology company’s stock valued at $266,000 after acquiring an additional 79 shares during the period. Finally, Carolinas Wealth Consulting LLC grew its position in QUALCOMM by 6.5% in the third quarter. Carolinas Wealth Consulting LLC now owns 1,360 shares of the wireless technology company’s stock valued at $154,000 after acquiring an additional 83 shares during the period. 70.87% of the stock is currently owned by institutional investors.

QUALCOMM Trading Up 0.2 %

NASDAQ QCOM traded up $0.22 on Friday, reaching $120.73. The company had a trading volume of 12,304,145 shares, compared to its average volume of 6,995,201. The stock’s 50 day moving average is $125.43 and its 200-day moving average is $121.05. The stock has a market cap of $134.61 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 0.94 and a beta of 1.28. The company has a quick ratio of 1.41, a current ratio of 2.09 and a debt-to-equity ratio of 0.82. QUALCOMM Incorporated has a 52 week low of $101.93 and a 52 week high of $161.30.

QUALCOMM (NASDAQ:QCOM – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The wireless technology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.02. The business had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.57 billion. QUALCOMM had a return on equity of 69.93% and a net margin of 27.40%. The firm’s revenue was down 11.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.96 earnings per share. Equities analysts predict that QUALCOMM Incorporated will post 8.21 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Thursday, March 2nd will be issued a $0.75 dividend. The ex-dividend date is Wednesday, March 1st. This represents a $3.00 annualized dividend and a dividend yield of 2.48%. QUALCOMM’s dividend payout ratio (DPR) is currently 28.90%.

Analyst Ratings Changes

QCOM has been the topic of a number of analyst reports. Morgan Stanley upped their price target on QUALCOMM from $126.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Credit Suisse Group boosted their price objective on QUALCOMM from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Cowen reduced their price objective on QUALCOMM from $165.00 to $155.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. Citigroup boosted their price objective on QUALCOMM from $105.00 to $132.00 and gave the stock a “neutral” rating in a research note on Sunday, February 5th. Finally, JPMorgan Chase & Co. reduced their price objective on QUALCOMM from $185.00 to $160.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average price target of $156.48.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 27,626 shares of the stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $131.48, for a total value of $3,632,266.48. Following the completion of the sale, the insider now directly owns 23,637 shares in the company, valued at $3,107,792.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other QUALCOMM news, insider Alexander H. Rogers sold 27,626 shares of the stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $131.48, for a total value of $3,632,266.48. Following the completion of the sale, the insider now directly owns 23,637 shares in the company, valued at $3,107,792.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey William Henderson sold 2,500 shares of the stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $124.05, for a total value of $310,125.00. Following the completion of the sale, the director now owns 4,605 shares of the company’s stock, valued at $571,250.25. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.

QUALCOMM Company Profile

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QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.