Illinois Municipal Retirement Fund Has $28.69 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Illinois Municipal Retirement Fund increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 186,799 shares of the wireless technology company’s stock after buying an additional 15,334 shares during the period. Illinois Municipal Retirement Fund’s holdings in QUALCOMM were worth $28,694,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM in the 4th quarter valued at about $26,000. Banque Transatlantique SA bought a new stake in QUALCOMM in the 4th quarter valued at about $26,000. WFA Asset Management Corp bought a new stake in QUALCOMM in the 1st quarter valued at about $27,000. Sunbeam Capital Management LLC bought a new stake in QUALCOMM in the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM in the 4th quarter valued at about $30,000. Institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $146.10, for a total transaction of $486,951.30. Following the completion of the sale, the chief financial officer now owns 49,779 shares of the company’s stock, valued at $7,272,711.90. The trade was a 6.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 423,464 shares of company stock worth $8,135,164. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on QCOM shares. Wall Street Zen downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Loop Capital cut their price target on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. Wells Fargo & Company lowered their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. Finally, TD Cowen cut their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, QUALCOMM presently has an average rating of “Hold” and an average price target of $186.96.

QUALCOMM Trading Up 1.4%

QCOM opened at $158.19 on Friday. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The company has a fifty day moving average of $149.00 and a 200-day moving average of $154.82. The stock has a market cap of $173.69 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. During the same period in the prior year, the company posted $2.44 earnings per share. QUALCOMM’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.25%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

QUALCOMM Company Profile

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.