State of Wisconsin Investment Board Grows Position in QUALCOMM, Inc. (NASDAQ:QCOM)

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State of Wisconsin Investment Board increased its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 10.3% during the first quarter, HoldingsChannel reports. The firm owned 1,339,476 shares of the wireless technology company’s stock after buying an additional 125,427 shares during the period. State of Wisconsin Investment Board’s holdings in QUALCOMM were worth $76,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Meitav Dash Investments Ltd. boosted its holdings in shares of QUALCOMM by 13.9% during the 1st quarter. Meitav Dash Investments Ltd. now owns 56,943 shares of the wireless technology company’s stock worth $3,220,000 after purchasing an additional 6,947 shares during the last quarter. Impala Asset Management LLC bought a new position in shares of QUALCOMM in the 1st quarter valued at about $9,553,000. Jennison Associates LLC boosted its stake in QUALCOMM by 2.4% during the 1st quarter. Jennison Associates LLC now owns 1,394,292 shares of the wireless technology company’s stock worth $79,516,000 after acquiring an additional 32,648 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in QUALCOMM by 2.7% during the 1st quarter. Rockefeller Capital Management L.P. now owns 100,229 shares of the wireless technology company’s stock worth $5,716,000 after buying an additional 2,652 shares during the period. Finally, Princeton Portfolio Strategies Group LLC raised its holdings in shares of QUALCOMM by 14.2% in the first quarter. Princeton Portfolio Strategies Group LLC now owns 32,517 shares of the wireless technology company’s stock valued at $1,854,000 after purchasing an additional 4,041 shares during the last quarter. Institutional investors own 76.38% of the company’s stock.

QCOM has been the subject of several recent research reports. Barclays lowered their price objective on QUALCOMM from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. Macquarie set a $90.00 target price on QUALCOMM and gave the company a “buy” rating in a research report on Thursday, May 23rd. Bank of America dropped coverage on QUALCOMM in a research note on Thursday, May 23rd. Cfra set a $80.00 price target on QUALCOMM and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, Deutsche Bank downgraded QUALCOMM from a “buy” rating to a “hold” rating and dropped their target price for the stock from $98.00 to $74.00 in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $79.68.

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 848,877 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $34.20, for a total transaction of $29,031,593.40. Following the completion of the transaction, the insider now directly owns 848,877 shares of the company’s stock, valued at approximately $29,031,593.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Clark T. Jr. Randt sold 2,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $89.58, for a total transaction of $179,160.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 949,832 shares of company stock valued at $37,443,538. Insiders own 0.11% of the company’s stock.

QCOM opened at $69.93 on Friday. The stock has a market capitalization of $84.60 billion, a PE ratio of 21.92, a P/E/G ratio of 1.54 and a beta of 1.59. QUALCOMM, Inc. has a 1-year low of $49.10 and a 1-year high of $90.34. The company has a quick ratio of 1.39, a current ratio of 1.55 and a debt-to-equity ratio of 3.98.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.07. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.83 billion. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. The company’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 EPS. On average, equities analysts expect that QUALCOMM, Inc. will post 3.31 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 6th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Wednesday, June 5th. QUALCOMM’s payout ratio is currently 77.74%.

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About QUALCOMM

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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