Teachers Retirement System of The State of Kentucky Has $32.06 Million Holdings in QUALCOMM, Inc. (NASDAQ:QCOM)

Teachers Retirement System of The State of Kentucky cut its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 9.1% in the second quarter, Holdings Channel.com reports. The firm owned 351,469 shares of the wireless technology company’s stock after selling 35,300 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in QUALCOMM were worth $32,057,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Garde Capital Inc. lifted its position in QUALCOMM by 7.9% during the 2nd quarter. Garde Capital Inc. now owns 9,080 shares of the wireless technology company’s stock worth $828,000 after buying an additional 667 shares in the last quarter. Advisor OS LLC bought a new stake in QUALCOMM during the 2nd quarter worth about $505,000. Neuberger Berman Group LLC lifted its position in QUALCOMM by 97.5% during the 2nd quarter. Neuberger Berman Group LLC now owns 577,847 shares of the wireless technology company’s stock worth $52,702,000 after buying an additional 285,266 shares in the last quarter. WFA of San Diego LLC bought a new stake in QUALCOMM during the 2nd quarter worth about $2,298,000. Finally, Stonehage Fleming Financial Services Holdings Ltd lifted its position in QUALCOMM by 2.1% during the 2nd quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 12,250 shares of the wireless technology company’s stock worth $1,117,000 after buying an additional 250 shares in the last quarter. 74.79% of the stock is owned by hedge funds and other institutional investors.

In other QUALCOMM news, CEO Steven M. Mollenkopf sold 219,131 shares of the stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $93.66, for a total transaction of $20,523,809.46. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Donald J. Rosenberg sold 11,038 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $87.68, for a total transaction of $967,811.84. Following the transaction, the executive vice president now owns 3,591 shares in the company, valued at approximately $314,858.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 234,148 shares of company stock worth $21,899,420. Company insiders own 0.12% of the company’s stock.

Several equities research analysts have commented on the stock. Edward Jones raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Friday, July 31st. BidaskClub cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Susquehanna Bancshares boosted their price target on shares of QUALCOMM from $110.00 to $125.00 in a research report on Thursday, July 30th. Sanford C. Bernstein set a $135.00 target price on shares of QUALCOMM and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, Bank of America upped their target price on shares of QUALCOMM from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. QUALCOMM presently has a consensus rating of “Buy” and an average target price of $110.87.

QCOM traded up $3.12 on Tuesday, reaching $116.58. The company had a trading volume of 8,772,703 shares, compared to its average volume of 10,552,889. QUALCOMM, Inc. has a fifty-two week low of $58.00 and a fifty-two week high of $123.93. The stock has a market cap of $131.53 billion, a P/E ratio of 49.51, a P/E/G ratio of 1.79 and a beta of 1.36. The company’s fifty day moving average is $111.29 and its 200 day moving average is $87.83. The company has a debt-to-equity ratio of 4.67, a quick ratio of 1.67 and a current ratio of 1.97.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.15. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the business earned $0.80 EPS. QUALCOMM’s quarterly revenue was down .1% on a year-over-year basis. On average, sell-side analysts expect that QUALCOMM, Inc. will post 3.2 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.23%. QUALCOMM’s payout ratio is presently 91.55%.

QUALCOMM Company Profile

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.

Further Reading: How Do You Calculate Return on Equity (ROE)?

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM, Inc. (NASDAQ:QCOM).

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.