New Mexico Educational Retirement Board Grows Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

New Mexico Educational Retirement Board grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 13.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 65,557 shares of the wireless technology company’s stock after acquiring an additional 7,600 shares during the period. New Mexico Educational Retirement Board’s holdings in QUALCOMM were worth $11,099,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in QCOM. Norges Bank purchased a new stake in QUALCOMM during the 4th quarter worth approximately $2,507,978,000. International Assets Investment Management LLC increased its stake in QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after buying an additional 2,983,206 shares during the period. Pacer Advisors Inc. increased its stake in QUALCOMM by 1,543.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after buying an additional 2,659,323 shares during the period. Price T Rowe Associates Inc. MD increased its stake in QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after buying an additional 1,909,025 shares during the period. Finally, Global Assets Advisory LLC purchased a new stake in QUALCOMM during the 1st quarter worth approximately $238,770,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of QCOM stock traded up $4.03 during mid-day trading on Friday, hitting $199.18. The stock had a trading volume of 15,547,484 shares, compared to its average volume of 11,272,695. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The firm has a market cap of $222.28 billion, a PE ratio of 26.77, a PEG ratio of 2.42 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The company’s 50-day simple moving average is $195.82 and its 200-day simple moving average is $169.45.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.82 by $0.11. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the completion of the transaction, the chief technology officer now owns 261,893 shares in the company, valued at approximately $44,068,735.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the transaction, the chief technology officer now owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock worth $8,206,875 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on QCOM shares. Argus increased their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Susquehanna increased their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. Canaccord Genuity Group increased their price objective on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Robert W. Baird upped their target price on shares of QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $192.13.

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.