State of Alaska Department of Revenue Sells 11,620 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

State of Alaska Department of Revenue trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 260,738 shares of the wireless technology company’s stock after selling 11,620 shares during the period. State of Alaska Department of Revenue’s holdings in QUALCOMM were worth $37,709,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Chilton Capital Management LLC boosted its position in QUALCOMM by 1.9% during the 4th quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock valued at $544,000 after acquiring an additional 70 shares in the last quarter. Certified Advisory Corp raised its holdings in QUALCOMM by 0.7% in the first quarter. Certified Advisory Corp now owns 11,582 shares of the wireless technology company’s stock worth $1,770,000 after purchasing an additional 79 shares in the last quarter. Source Financial Advisors LLC lifted its position in QUALCOMM by 2.2% during the fourth quarter. Source Financial Advisors LLC now owns 3,903 shares of the wireless technology company’s stock valued at $564,000 after buying an additional 85 shares during the period. MCF Advisors LLC boosted its holdings in shares of QUALCOMM by 1.6% during the 3rd quarter. MCF Advisors LLC now owns 5,891 shares of the wireless technology company’s stock valued at $654,000 after buying an additional 90 shares in the last quarter. Finally, Chesley Taft & Associates LLC grew its position in shares of QUALCOMM by 0.5% in the 4th quarter. Chesley Taft & Associates LLC now owns 16,858 shares of the wireless technology company’s stock worth $2,438,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the transaction, the chief executive officer now directly owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the completion of the sale, the chief executive officer now owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James J. Cathey sold 1,000 shares of the stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the transaction, the insider now directly owns 4,972 shares in the company, valued at $691,108. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,360 shares of company stock valued at $5,457,048. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Up 0.1 %

QCOM stock traded up $0.17 during trading on Friday, hitting $169.30. 5,323,975 shares of the company’s stock traded hands, compared to its average volume of 8,895,906. The business has a fifty day simple moving average of $158.12 and a two-hundred day simple moving average of $136.11. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $188.94 billion, a P/E ratio of 24.54, a PEG ratio of 2.31 and a beta of 1.41. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 7.67 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were paid a $0.80 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $3.20 annualized dividend and a yield of 1.89%. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. KeyCorp lifted their target price on QUALCOMM from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 target price on shares of QUALCOMM in a report on Monday, March 4th. Morgan Stanley downgraded shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $119.00 to $132.00 in a research note on Friday, December 8th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Finally, Barclays increased their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.71.

QUALCOMM Company 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.