Oregon Public Employees Retirement Fund Reduces Position in QUALCOMM Incorporated (QCOM)

Oregon Public Employees Retirement Fund lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 648,907 shares of the wireless technology company’s stock after selling 505 shares during the period. QUALCOMM comprises approximately 0.7% of Oregon Public Employees Retirement Fund’s portfolio, making the stock its 25th largest position. Oregon Public Employees Retirement Fund’s holdings in QUALCOMM were worth $37,208,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Massey Quick & Co. LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at $105,000. American National Bank increased its stake in shares of QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock valued at $162,000 after buying an additional 822 shares in the last quarter. Advantage Investment Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at $200,000. Glassman Wealth Services increased its stake in shares of QUALCOMM by 9.1% in the fourth quarter. Glassman Wealth Services now owns 3,094 shares of the wireless technology company’s stock valued at $202,000 after buying an additional 258 shares in the last quarter. Finally, Millie Capital Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth approximately $214,000. Institutional investors and hedge funds own 77.99% of the company’s stock.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

QUALCOMM Incorporated (NASDAQ:QCOM) opened at 57.61 on Tuesday. QUALCOMM Incorporated has a 12-month low of $50.84 and a 12-month high of $71.62. The stock has a market capitalization of $85.12 billion, a price-to-earnings ratio of 19.20 and a beta of 1.25. The firm has a 50-day moving average of $56.71 and a 200-day moving average of $58.50.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 19th. The wireless technology company reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.29. QUALCOMM had a return on equity of 21.32% and a net margin of 19.25%. The firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same period last year, the company posted $1.04 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts forecast that QUALCOMM Incorporated will post $4.21 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Wednesday, May 31st will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, May 26th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.53. This represents a $2.28 dividend on an annualized basis and a yield of 3.96%. QUALCOMM’s dividend payout ratio (DPR) is presently 76.00%.

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A number of brokerages have recently commented on QCOM. Vetr cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $60.62 target price on the stock. in a report on Monday, May 22nd. Stifel Nicolaus lifted their target price on shares of QUALCOMM from $56.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 26th. BMO Capital Markets reaffirmed a “market perform” rating on shares of QUALCOMM in a report on Sunday, May 21st. J P Morgan Chase & Co raised shares of QUALCOMM from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $50.00 to $68.00 in a report on Monday, May 22nd. Finally, Macquarie began coverage on shares of QUALCOMM in a report on Thursday, March 30th. They issued a “neutral” rating and a $60.00 target price on the stock. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $64.53.

In other QUALCOMM news, EVP Michelle M. Sterling sold 5,509 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $59.11, for a total transaction of $325,636.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alexander H. Rogers sold 470 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total value of $26,921.60. Following the sale, the executive vice president now owns 3,049 shares of the company’s stock, valued at $174,646.72. The disclosure for this sale can be found here. Insiders have sold a total of 63,931 shares of company stock valued at $3,536,013 over the last 90 days. Corporate insiders own 0.24% of the company’s stock.

QUALCOMM Company Profile

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:QCOM”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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