Michelle M. Sterling Sells 5,509 Shares of QUALCOMM, Inc. (QCOM) Stock
QUALCOMM, Inc. (NASDAQ:QCOM) EVP Michelle M. Sterling sold 5,509 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $59.11, for a total value of $325,636.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
QUALCOMM, Inc. (NASDAQ:QCOM) traded down 0.10% during midday trading on Tuesday, hitting $59.22. The stock had a trading volume of 14,223,218 shares. QUALCOMM, Inc. has a 52 week low of $50.84 and a 52 week high of $71.62. The company’s 50 day moving average price is $54.74 and its 200-day moving average price is $59.80. The stock has a market capitalization of $87.49 billion, a price-to-earnings ratio of 19.73 and a beta of 1.31. QUALCOMM also saw some unusual options trading on Monday. Investors bought 2,710 put options on the stock. This represents an increase of approximately 233% compared to the typical daily volume of 813 put options.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 19th. The wireless technology company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.05 by $0.29. QUALCOMM had a return on equity of 20.25% and a net margin of 20.56%. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same quarter in the prior year, the company earned $1.04 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities analysts anticipate that QUALCOMM, Inc. will post $4.23 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, May 31st will be given a dividend of $0.57 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, May 26th. This represents a $2.28 annualized dividend and a dividend yield of 3.85%. QUALCOMM’s dividend payout ratio is presently 64.63%.
Several large investors have recently made changes to their positions in the stock. Aetna Inc. PA acquired a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $12,411,000. Nelson Roberts Investment Advisors LLC raised its stake in shares of QUALCOMM by 6.2% in the third quarter. Nelson Roberts Investment Advisors LLC now owns 85,292 shares of the wireless technology company’s stock valued at $5,843,000 after buying an additional 4,986 shares during the last quarter. Federated Investors Inc. PA raised its stake in shares of QUALCOMM by 117.6% in the fourth quarter. Federated Investors Inc. PA now owns 402,062 shares of the wireless technology company’s stock valued at $26,214,000 after buying an additional 217,276 shares during the last quarter. Tredje AP fonden raised its stake in shares of QUALCOMM by 8.8% in the fourth quarter. Tredje AP fonden now owns 176,442 shares of the wireless technology company’s stock valued at $11,504,000 after buying an additional 14,307 shares during the last quarter. Finally, ARGI Investment Services LLC raised its stake in shares of QUALCOMM by 6.2% in the third quarter. ARGI Investment Services LLC now owns 25,285 shares of the wireless technology company’s stock valued at $1,732,000 after buying an additional 1,474 shares during the last quarter. Institutional investors own 79.28% of the company’s stock.
A number of research analysts recently commented on the company. BMO Capital Markets restated a “market perform” rating and issued a $60.00 target price on shares of QUALCOMM in a research note on Saturday, April 22nd. Vetr lowered QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 target price for the company. in a research note on Tuesday, May 2nd. Sanford C. Bernstein restated a “market perform” rating on shares of QUALCOMM in a research note on Monday, May 15th. Rosenblatt Securities lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $56.00 target price for the company. in a research note on Wednesday, April 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $60.00 target price on shares of QUALCOMM in a research note on Saturday, April 22nd. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $64.23.
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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