Louisiana State Employees Retirement System lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.7% during the third quarter, Holdings Channel reports. The institutional investor owned 93,800 shares of the wireless technology company’s stock after selling 2,600 shares during the period. Louisiana State Employees Retirement System’s holdings in QUALCOMM were worth $6,425,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the stock. Pinkerton Retirement Specialists LLC raised its stake in shares of QUALCOMM by 3,479.3% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,076 shares of the wireless technology company’s stock worth $111,000 after buying an additional 2,018 shares during the period. Krilogy Financial LLC raised its stake in shares of QUALCOMM by 61.8% in the second quarter. Krilogy Financial LLC now owns 2,071 shares of the wireless technology company’s stock worth $111,000 after buying an additional 791 shares during the period. Orrstown Financial Services Inc. raised its stake in shares of QUALCOMM by 53.2% in the third quarter. Orrstown Financial Services Inc. now owns 1,627 shares of the wireless technology company’s stock worth $111,000 after buying an additional 565 shares during the period. Kelman Lazarov Inc. raised its stake in shares of QUALCOMM by 6.1% in the third quarter. Kelman Lazarov Inc. now owns 1,735 shares of the wireless technology company’s stock worth $116,000 after buying an additional 100 shares during the period. Finally, Joel Isaacson & Co. LLC raised its stake in shares of QUALCOMM by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock worth $119,000 after buying an additional 103 shares during the period. 78.41% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

QUALCOMM Incorporated (NASDAQ:QCOM) traded up 1.142% during mid-day trading on Friday, hitting $66.875. 2,319,086 shares of the stock were exchanged. The company has a 50 day moving average of $67.00 and a 200 day moving average of $63.40. The firm has a market cap of $98.77 billion, a P/E ratio of 17.552 and a beta of 1.35. QUALCOMM Incorporated has a 12-month low of $42.24 and a 12-month high of $71.62.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 2nd. The wireless technology company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.13 by $0.15. The business had revenue of $9.17 billion for the quarter, compared to analyst estimates of $5.84 billion. QUALCOMM had a return on equity of 19.31% and a net margin of 24.22%. The company’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. On average, equities analysts anticipate that QUALCOMM Incorporated will post $4.76 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Investors of record on Wednesday, March 1st will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.21%. QUALCOMM’s dividend payout ratio (DPR) is currently 55.64%.

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A number of equities research analysts have issued reports on QCOM shares. Vetr lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $69.01 price target on the stock. in a report on Monday, September 19th. Argus reaffirmed a “buy” rating and set a $73.00 target price (up previously from $70.00) on shares of QUALCOMM in a research note on Friday, September 30th. Mizuho raised shares of QUALCOMM from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Thursday, September 29th. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 target price on shares of QUALCOMM in a research note on Thursday, September 22nd. Finally, Nomura raised shares of QUALCOMM from a “neutral” rating to a “buy” rating and lifted their target price for the company from $55.00 to $80.00 in a research note on Monday, October 31st. Eighteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $67.36.

In related news, EVP Matthew S. Grob sold 2,000 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $67.72, for a total value of $135,440.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Derek K. Aberle sold 15,000 shares of the business’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $67.43, for a total transaction of $1,011,450.00. Following the completion of the sale, the president now owns 18,631 shares in the company, valued at $1,256,288.33. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

About QUALCOMM

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.

5 Day Chart for NASDAQ:QCOM

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