QUALCOMM Chairman Unloads $1,839,185 in Stock (QCOM)
QUALCOMM (NASDAQ:QCOM) Chairman Paul E. Jacobs sold 24,454 shares of the stock on the open market in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $75.21, for a total transaction of $1,839,185.34. Following the transaction, the chairman now directly owns 30,041 shares in the company, valued at approximately $2,259,384. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of QUALCOMM (NASDAQ:QCOM) traded up 0.43% during mid-day trading on Thursday, hitting $76.77. 8,615,020 shares of the company’s stock traded hands. QUALCOMM has a 52-week low of $65.47 and a 52-week high of $81.97. The stock’s 50-day moving average is $76.92 and its 200-day moving average is $77.87. The company has a market cap of $128.7 billion and a price-to-earnings ratio of 17.39.
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 declared a quarterly dividend, which is scheduled for Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, August 29th.
A number of analysts have recently weighed in on QCOM shares. Analysts at Deutsche Bank reiterated a “buy” rating on shares of QUALCOMM in a research note on Tuesday. Separately, analysts at Sanford C. Bernstein downgraded shares of QUALCOMM from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 31st. They now have a $80.00 price target on the stock. Finally, analysts at Bernstein downgraded shares of QUALCOMM from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 31st. They now have a $80.00 price target on the stock, down previously from $85.00. Twelve analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $81.81.
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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