QUALCOMM Incorporated (NASDAQ:QCOM) Stock Holdings Lifted by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,857 shares of the wireless technology company’s stock after acquiring an additional 925 shares during the quarter. Maryland State Retirement & Pension System’s holdings in QUALCOMM were worth $12,562,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Glass Jacobson Investment Advisors llc lifted its position in shares of QUALCOMM by 6.5% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock valued at $161,000 after acquiring an additional 68 shares in the last quarter. Chilton Capital Management LLC lifted its stake in shares of QUALCOMM by 1.9% in the fourth quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock valued at $544,000 after buying an additional 70 shares during the period. Means Investment CO. Inc. grew its position in QUALCOMM by 1.2% during the fourth quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock worth $838,000 after buying an additional 71 shares in the last quarter. Marino Stram & Associates LLC increased its stake in QUALCOMM by 2.5% during the fourth quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock valued at $430,000 after acquiring an additional 73 shares during the period. Finally, First Command Advisory Services Inc. raised its holdings in QUALCOMM by 6.1% in the 4th quarter. First Command Advisory Services Inc. now owns 1,366 shares of the wireless technology company’s stock valued at $198,000 after acquiring an additional 79 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on QCOM shares. Evercore ISI began coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price on the stock. KeyCorp boosted their price target on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Argus lifted their price objective on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday. Rosenblatt Securities upped their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, Wolfe Research lifted their price target on shares of QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $180.48.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the sale, the chief technology officer now directly owns 253,893 shares of the company’s stock, valued at $46,208,526. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares of the company’s stock, valued at $46,208,526. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders sold 46,316 shares of company stock valued at $7,796,128 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

QCOM traded down $1.05 on Tuesday, hitting $180.80. The company’s stock had a trading volume of 4,844,875 shares, compared to its average volume of 8,681,258. The company’s 50 day simple moving average is $168.19 and its 200-day simple moving average is $147.58. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $184.31. The firm has a market cap of $201.77 billion, a P/E ratio of 24.59, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 1.88%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 43.01%.

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.