Illinois Municipal Retirement Fund Sells 8,769 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Illinois Municipal Retirement Fund decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 147,576 shares of the wireless technology company’s stock after selling 8,769 shares during the period. QUALCOMM makes up about 0.4% of Illinois Municipal Retirement Fund’s portfolio, making the stock its 28th biggest position. Illinois Municipal Retirement Fund’s holdings in QUALCOMM were worth $29,394,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of QCOM. WFA Asset Management Corp acquired a new position in QUALCOMM during the first quarter worth about $27,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM in the 2nd quarter valued at approximately $32,000. Aspect Partners LLC grew its holdings in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the last quarter. McClarren Financial Advisors Inc. increased its position in QUALCOMM by 43.2% during the 2nd 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 in the last quarter. Finally, First Pacific Financial bought a new position in QUALCOMM in the 2nd quarter valued at approximately $40,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a report on Wednesday, July 17th. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Citigroup boosted their price target on QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Robert W. Baird upped their price objective on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Barclays lifted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM Trading Down 3.4 %

Shares of NASDAQ:QCOM traded down $5.51 during mid-day trading on Friday, hitting $158.19. The company had a trading volume of 10,703,047 shares, compared to its average volume of 9,279,430. The firm has a fifty day moving average price of $179.95 and a 200 day moving average price of $181.35. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The company has a market capitalization of $176.22 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 1.93 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 issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. As a group, research analysts forecast that QUALCOMM Incorporated will post 7.98 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,000 shares of company stock worth $3,496,590. Insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.