New Mexico Educational Retirement Board Sells 1,200 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

New Mexico Educational Retirement Board trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,957 shares of the wireless technology company’s stock after selling 1,200 shares during the period. New Mexico Educational Retirement Board’s holdings in QUALCOMM were worth $7,981,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $27,000. Banque Transatlantique SA bought a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 70 shares during the last quarter. Sunbeam Capital Management LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of QUALCOMM during the 4th quarter worth approximately $30,000. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider directly owned 22,793 shares in the company, valued at $3,139,507.82. The trade was a 6.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock worth $8,310,735 in the last ninety days. 0.08% of the stock is owned by insiders.

QUALCOMM Trading Up 0.9%

Shares of NASDAQ:QCOM opened at $159.45 on Wednesday. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $211.09. The business’s fifty day simple moving average is $151.78 and its 200-day simple moving average is $155.04. The company has a market capitalization of $175.08 billion, a PE ratio of 16.24, a P/E/G ratio of 2.04 and a beta of 1.26. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period last year, the business posted $2.44 EPS. The business’s revenue was up 17.0% compared to the same quarter last year. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on QCOM. Susquehanna decreased their price target on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. Evercore ISI decreased their price target on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. Seaport Res Ptn raised QUALCOMM to a “hold” rating in a research note on Friday, May 9th. TD Cowen decreased their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company decreased their price target on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM currently has an average rating of “Hold” and a consensus price target of $188.00.

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.