Louisiana State Employees Retirement System Acquires Shares of 155,700 QUALCOMM Incorporated (NASDAQ:QCOM)

Louisiana State Employees Retirement System bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 155,700 shares of the wireless technology company’s stock, valued at approximately $22,519,000. QUALCOMM makes up 0.5% of Louisiana State Employees Retirement System’s holdings, making the stock its 28th largest position.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of QUALCOMM by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after buying an additional 483,390 shares in the last quarter. State Street Corp increased its stake in QUALCOMM by 2.5% in the 1st quarter. State Street Corp now owns 48,492,351 shares of the wireless technology company’s stock valued at $6,186,652,000 after purchasing an additional 1,183,406 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in QUALCOMM by 117,461.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after purchasing an additional 24,566,978 shares in the last quarter. Morgan Stanley increased its stake in QUALCOMM by 22.2% in the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after purchasing an additional 3,929,586 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in QUALCOMM by 7.0% in the 2nd quarter. Alliancebernstein L.P. now owns 18,042,933 shares of the wireless technology company’s stock valued at $2,147,831,000 after purchasing an additional 1,178,546 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the transaction, the chief executive officer now directly owns 32,400 shares in the company, valued at $4,843,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the transaction, the chief executive officer now directly owns 32,400 shares in the company, valued at $4,843,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders sold a total of 44,360 shares of company stock worth $7,184,678 over the last ninety days. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of analyst reports. Canaccord Genuity Group increased their target price on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. Rosenblatt Securities raised their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a report on Thursday, February 1st. TD Cowen raised their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve 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 target price of $154.90.

QUALCOMM Stock Down 2.2 %

Shares of NASDAQ QCOM traded down $3.84 during midday trading on Friday, reaching $171.29. 8,216,680 shares of the company’s stock were exchanged, compared to its average volume of 6,572,647. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59. The stock has a market capitalization of $191.16 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 2.39 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The business’s fifty day moving average price is $163.10 and its two-hundred day moving average price is $140.79.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Analysts forecast that QUALCOMM Incorporated will post 7.67 EPS for the current year.

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.