New York State Teachers Retirement System Sells 33,080 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

New York State Teachers Retirement System trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,097,420 shares of the wireless technology company’s stock after selling 33,080 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of QUALCOMM worth $186,616,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in QCOM. Highline Wealth Partners LLC bought a new stake in QUALCOMM in the 3rd quarter valued at $1,727,000. AMI Asset Management Corp increased its stake in QUALCOMM by 2,620.0% in the third quarter. AMI Asset Management Corp now owns 238,243 shares of the wireless technology company’s stock valued at $40,513,000 after acquiring an additional 229,484 shares during the period. Deltec Asset Management LLC acquired a new position in QUALCOMM in the third quarter worth about $1,700,000. Fidelis Capital Partners LLC lifted its stake in QUALCOMM by 6.3% during the third quarter. Fidelis Capital Partners LLC now owns 20,201 shares of the wireless technology company’s stock worth $3,365,000 after purchasing an additional 1,196 shares during the period. Finally, Strategic Blueprint LLC lifted its stake in QUALCOMM by 14.8% during the third quarter. Strategic Blueprint LLC now owns 5,032 shares of the wireless technology company’s stock worth $856,000 after purchasing an additional 647 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,245 shares of company stock worth $3,679,407 in the last quarter. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 3.1 %

QUALCOMM stock traded down $5.41 during trading hours on Wednesday, reaching $170.59. 1,535,347 shares of the company’s stock were exchanged, compared to its average volume of 8,930,295. QUALCOMM Incorporated has a twelve month low of $106.69 and a twelve month high of $230.63. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm’s 50 day simple moving average is $169.19 and its 200 day simple moving average is $182.17. The firm has a market capitalization of $190.04 billion, a PE ratio of 22.80, a PEG ratio of 1.71 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. Research analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is presently 44.04%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on QCOM shares. Deutsche Bank Aktiengesellschaft boosted their price target on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Piper Sandler restated an “overweight” rating and issued a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Barclays boosted their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $207.92.

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.