Retirement Systems of Alabama trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,078,627 shares of the wireless technology company’s stock after selling 10,350 shares during the period. Retirement Systems of Alabama owned about 0.07% of QUALCOMM worth $59,562,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Jacobi Capital Management LLC raised its holdings in QUALCOMM by 10.8% during the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after purchasing an additional 250 shares during the last quarter. Alpha Windward LLC boosted its stake in shares of QUALCOMM by 6.1% in the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after purchasing an additional 153 shares during the last quarter. Welch Group LLC boosted its stake in shares of QUALCOMM by 2.3% in the 1st quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock valued at $174,000 after purchasing an additional 69 shares during the last quarter. American National Bank boosted its stake in shares of QUALCOMM by 28.7% in the 2nd quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock valued at $201,000 after purchasing an additional 812 shares during the last quarter. Finally, Ronald Blue & Co. LLC boosted its stake in shares of QUALCOMM by 0.5% in the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after purchasing an additional 18 shares during the last quarter. Institutional investors and hedge funds own 76.97% of the company’s stock.

Several equities research analysts have recently weighed in on QCOM shares. Northland Securities cut shares of QUALCOMM from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $75.00 to $62.50 in a research report on Wednesday, June 28th. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets restated a “market perform” rating and issued a $54.00 target price on shares of QUALCOMM in a report on Monday, July 10th. Rosenblatt Securities restated a “neutral” rating and issued a $56.00 target price on shares of QUALCOMM in a report on Friday, June 30th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating on shares of QUALCOMM in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $63.60.

Shares of QUALCOMM Incorporated (QCOM) opened at 52.02 on Wednesday. The company has a market capitalization of $76.78 billion, a price-to-earnings ratio of 19.92 and a beta of 1.28. The firm has a 50 day moving average price of $51.76 and a 200 day moving average price of $54.55. QUALCOMM Incorporated has a 52 week low of $48.92 and a 52 week high of $71.62.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The firm’s revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 EPS. Equities analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, August 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.38%. QUALCOMM’s payout ratio is 87.36%.

In related news, President Derek K. Aberle sold 23,104 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the completion of the sale, the president now directly owns 5,855 shares in the company, valued at $324,249.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The disclosure for this sale can be found here. Insiders have sold a total of 28,914 shares of company stock worth $1,581,095 over the last three months. Insiders own 0.24% of the company’s stock.

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About QUALCOMM

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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