Illinois Municipal Retirement Fund Raises Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Illinois Municipal Retirement Fund raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 11.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 171,465 shares of the wireless technology company’s stock after purchasing an additional 18,084 shares during the period. Illinois Municipal Retirement Fund’s holdings in QUALCOMM were worth $26,340,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. lifted its holdings in shares of QUALCOMM by 15.3% during the 3rd quarter. GHP Investment Advisors Inc. now owns 769 shares of the wireless technology company’s stock valued at $131,000 after buying an additional 102 shares during the period. Modera Wealth Management LLC lifted its holdings in shares of QUALCOMM by 1.0% during the 3rd quarter. Modera Wealth Management LLC now owns 17,679 shares of the wireless technology company’s stock valued at $3,006,000 after buying an additional 173 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in shares of QUALCOMM by 14.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 14,262 shares of the wireless technology company’s stock valued at $2,425,000 after buying an additional 1,781 shares during the period. FCG Investment Co bought a new position in shares of QUALCOMM during the 3rd quarter valued at $1,799,000. Finally, Gemmer Asset Management LLC lifted its holdings in shares of QUALCOMM by 193.7% during the 3rd quarter. Gemmer Asset Management LLC now owns 11,840 shares of the wireless technology company’s stock valued at $2,013,000 after buying an additional 7,809 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on QCOM. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Friday. Wells Fargo & Company raised their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Barclays decreased their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Susquehanna decreased their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Finally, Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $205.32.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,708 shares of company stock worth $7,713,734 over the last three months. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

NASDAQ QCOM opened at $161.10 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm’s 50 day moving average price is $164.52 and its 200-day moving average price is $165.81. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a market cap of $178.18 billion, a PE ratio of 17.21, a P/E/G ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.11%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

QUALCOMM Profile

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.