QUALCOMM Chairman Sells $5,159,700 in Stock (QCOM)
QUALCOMM (NASDAQ:QCOM) Chairman Paul E. Jacobs sold 70,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $73.71, for a total value of $5,159,700.00. Following the sale, the chairman now directly owns 30,041 shares of the company’s stock, valued at approximately $2,214,322. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
QUALCOMM (NASDAQ:QCOM) traded up 0.98% on Monday, hitting $73.26. 13,114,231 shares of the company’s stock traded hands. QUALCOMM has a 1-year low of $65.00 and a 1-year high of $81.97. The stock’s 50-day moving average is $78.59 and its 200-day moving average is $77.90. The company has a market cap of $122.8 billion and a P/E ratio of 16.50.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.22 by $0.22. The company had revenue of $6.80 million for the quarter, compared to the consensus estimate of $6.52 million. During the same quarter last year, the company posted $1.03 earnings per share. QUALCOMM’s revenue was up 9.0% compared to the same quarter last year. On average, analysts predict that QUALCOMM will post $5.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Friday, August 29th.
A number of analysts have recently weighed in on QCOM shares. Analysts at Sanford C. Bernstein downgraded shares of QUALCOMM from an “outperform” rating to a “market perform” rating in a research note on Thursday. They now have a $80.00 price target on the stock. Separately, analysts at Bernstein downgraded shares of QUALCOMM from an “outperform” rating to a “market perform” rating in a research note on Thursday. They now have a $80.00 price target on the stock, down previously from $85.00. Finally, analysts at Nomura reiterated a “buy” rating on shares of QUALCOMM in a research note on Thursday, July 24th. They now have a $85.00 price target on the stock, down previously from $90.00. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $82.47.
QUALCOMM Incorporated (NASDAQ:QCOM), is engaged in design, manufacture, have manufactured on its behalf and market digital communications products and services based on code division multiple access (CDMA), Orthogonal Frequency Division Multiplexing (OFDMA) and other technologies.
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