New York State Common Retirement Fund Buys 3,739 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

New York State Common Retirement Fund boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,422,293 shares of the wireless technology company’s stock after purchasing an additional 3,739 shares during the quarter. New York State Common Retirement Fund owned about 0.13% of QUALCOMM worth $218,493,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM in the 3rd quarter valued at $26,000. CKW Financial Group bought a new position in QUALCOMM during the fourth quarter worth about $27,000. Planning Capital Management Corp grew its stake in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the period. Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM in the third quarter worth about $36,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $173.64 on Wednesday. QUALCOMM Incorporated has a 12 month low of $148.90 and a 12 month high of $230.63. The stock has a 50 day moving average of $163.70 and a 200-day moving average of $165.54. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $192.05 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.99 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.96%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Transactions at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 7,717 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the transaction, the general counsel now directly owns 17,153 shares of the company’s stock, valued at approximately $2,754,600.27. This trade represents a 31.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,268 shares of company stock worth $7,785,781 over the last quarter. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

QCOM has been the subject of several research analyst reports. Piper Sandler decreased their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Morgan Stanley reduced their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Evercore ISI dropped their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Mizuho reduced their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Profile

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.