QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,103 shares of the wireless technology company’s stock after selling 4,305 shares during the quarter. Maryland State Retirement & Pension System’s holdings in QUALCOMM were worth $9,233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. CKW Financial Group acquired a new stake in QUALCOMM in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM during the 4th quarter valued at $29,000. Synergy Asset Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth $38,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of QUALCOMM in the third quarter valued at $39,000. Institutional investors own 74.35% of the company’s stock.

Insider Activity

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Piper Sandler lowered their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Mizuho cut 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. Susquehanna decreased their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Finally, StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Price Performance

QCOM opened at $156.29 on Wednesday. The stock has a fifty day moving average price of $164.56 and a 200 day moving average price of $164.19. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The stock has a market cap of $172.86 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. Analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.18%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

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.