Louisiana State Employees Retirement System Has $25.12 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Louisiana State Employees Retirement System reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 147,700 shares of the wireless technology company’s stock after selling 4,300 shares during the period. QUALCOMM makes up about 0.5% of Louisiana State Employees Retirement System’s investment portfolio, making the stock its 24th biggest position. Louisiana State Employees Retirement System’s holdings in QUALCOMM were worth $25,116,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. HWG Holdings LP acquired a new position in QUALCOMM in the second quarter valued at approximately $30,000. WFA Asset Management Corp acquired a new stake in QUALCOMM in the first quarter worth $27,000. Financial Connections Group Inc. acquired a new stake in QUALCOMM in the second quarter worth $32,000. Aspect Partners LLC raised its holdings in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares during the period. Finally, McClarren Financial Advisors Inc. raised its holdings in QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after purchasing an additional 60 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,245 shares of company stock valued at $3,679,407 in the last quarter. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM opened at $170.27 on Friday. The firm has a 50-day moving average of $169.16 and a 200-day moving average of $182.03. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The company has a market cap of $189.68 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. 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 (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. As a group, equities analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Rosenblatt Securities increased their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays increased their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Citigroup cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a report on Wednesday, July 17th. Finally, Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $207.92.

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.