New Mexico Educational Retirement Board lessened its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 99,207 shares of the wireless technology company’s stock after selling 1,900 shares during the quarter. New Mexico Educational Retirement Board’s holdings in QUALCOMM were worth $7,547,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Weaver Consulting Group acquired a new position in shares of QUALCOMM during the 1st quarter worth $25,000. Farmers National Bank bought a new position in shares of QUALCOMM during the 1st quarter worth about $26,000. Meridian Wealth Management LLC bought a new position in shares of QUALCOMM during the 1st quarter worth about $26,000. Ibex Wealth Advisors bought a new position in shares of QUALCOMM during the 2nd quarter worth about $28,000. Finally, Mark Sheptoff Financial Planning LLC bought a new position in shares of QUALCOMM during the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 79.55% of the company’s stock.

QCOM traded up $0.44 during midday trading on Wednesday, hitting $76.51. The company had a trading volume of 5,833,766 shares, compared to its average volume of 11,276,162. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.61 and a current ratio of 1.77. The company has a market capitalization of $89.08 billion, a PE ratio of 23.98, a P/E/G ratio of 1.99 and a beta of 1.62. QUALCOMM, Inc. has a twelve month low of $49.10 and a twelve month high of $90.34. The firm’s 50-day simple moving average is $73.98 and its 200-day simple moving average is $67.67.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.12 billion. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 EPS. As a group, sell-side analysts anticipate that QUALCOMM, Inc. will post 2.88 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.24%. The ex-dividend date is Wednesday, September 11th. QUALCOMM’s payout ratio is presently 77.74%.

A number of equities analysts have recently commented on QCOM shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $84.00 price objective on shares of QUALCOMM in a report on Thursday, May 2nd. Cfra set a $80.00 price objective on shares of QUALCOMM and gave the stock a “buy” rating in a report on Thursday, May 23rd. DZ Bank reissued a “sell” rating on shares of QUALCOMM in a report on Friday, August 2nd. Cowen reissued an “outperform” rating and set a $80.00 price target (down from $100.00) on shares of QUALCOMM in a report on Thursday, May 23rd. Finally, Edward Jones downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating and set a $69.31 price target for the company. in a report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $79.93.

In other QUALCOMM news, SVP Erin L. Polek sold 1,478 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $70.36, for a total value of $103,992.08. Following the completion of the sale, the senior vice president now owns 1,386 shares in the company, valued at approximately $97,518.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

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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