Shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Free Report) dropped 0.5% during trading on Tuesday following insider selling activity. The company traded as low as $137.46 and last traded at $138.72. Approximately 1,392,650 shares changed hands during trading, a decline of 84% from the average daily volume of 8,848,154 shares. The stock had previously closed at $139.44.
Specifically, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $139.77, for a total value of $465,853.41. Following the completion of the sale, the chief financial officer now directly owns 53,112 shares in the company, valued at approximately $7,423,464.24. The trade was a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider now owns 22,793 shares in the company, valued at approximately $3,139,507.82. This trade represents a 6.56 % decrease in their position. The disclosure for this sale can be found here.
Analysts Set New Price Targets
QCOM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. restated an “overweight” rating and issued a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. Barclays reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Citigroup lowered their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Susquehanna lowered their price target on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a report on Thursday, May 1st. Finally, TD Cowen reduced their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $192.08.
QUALCOMM Trading Up 3.3 %
The stock has a market capitalization of $158.70 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average price of $146.74 and a 200-day moving average price of $157.91.
QUALCOMM (NASDAQ:QCOM – Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the business posted $2.44 EPS. QUALCOMM’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.
QUALCOMM Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio is presently 36.25%.
Hedge Funds Weigh In On QUALCOMM
Large investors have recently made changes to their positions in the stock. N.E.W. Advisory Services LLC purchased a new position in QUALCOMM in the 1st quarter worth approximately $111,000. MB Levis & Associates LLC lifted its stake in QUALCOMM by 2.2% in the first quarter. MB Levis & Associates LLC now owns 12,242 shares of the wireless technology company’s stock worth $1,880,000 after acquiring an additional 261 shares during the period. TCTC Holdings LLC raised its holdings in QUALCOMM by 0.4% in the 1st quarter. TCTC Holdings LLC now owns 263,313 shares of the wireless technology company’s stock worth $40,448,000 after purchasing an additional 929 shares in the last quarter. Meeder Advisory Services Inc. raised its stake in QUALCOMM by 13.1% in the first quarter. Meeder Advisory Services Inc. now owns 20,461 shares of the wireless technology company’s stock worth $3,143,000 after buying an additional 2,367 shares in the last quarter. Finally, Clarendon Private LLC purchased a new position in QUALCOMM during the first quarter valued at $560,000. 74.35% of the stock is owned by institutional investors.
About QUALCOMM
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.
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