Kentucky Retirement Systems Insurance Trust Fund Sells 3,077 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 32,983 shares of the wireless technology company’s stock after selling 3,077 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in QUALCOMM were worth $5,609,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Leelyn Smith LLC purchased a new stake in shares of QUALCOMM during the 1st quarter valued at about $208,000. Nicolet Advisory Services LLC purchased a new stake in QUALCOMM in the first quarter worth about $222,000. Intech Investment Management LLC lifted its position in shares of QUALCOMM by 49.3% during the 1st quarter. Intech Investment Management LLC now owns 61,797 shares of the wireless technology company’s stock valued at $10,462,000 after buying an additional 20,412 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of QUALCOMM by 468.0% during the 1st quarter. Acadian Asset Management LLC now owns 257,374 shares of the wireless technology company’s stock valued at $43,564,000 after acquiring an additional 212,064 shares during the period. Finally, Blue Barn Wealth LLC increased its holdings in QUALCOMM by 54.5% in the 1st quarter. Blue Barn Wealth LLC now owns 5,727 shares of the wireless technology company’s stock worth $970,000 after acquiring an additional 2,021 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. The trade was a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $160.50 on Friday. The company has a market cap of $178.32 billion, a P/E ratio of 17.85, a P/E/G ratio of 2.70 and a beta of 1.28. The business’s 50 day moving average price is $168.35 and its 200-day moving average price is $182.10. QUALCOMM Incorporated has a fifty-two week low of $125.67 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Susquehanna cut their price target on QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Loop Capital started coverage on QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective on the stock. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Finally, Benchmark reissued a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $210.92.

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.