QUALCOMM (NASDAQ:QCOM) Trading Down 0.5% Following Insider Selling

Shares of QUALCOMM Incorporated (NASDAQ:QCOMGet 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.

View Our Latest Analysis on QCOM

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:QCOMGet 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

(Get Free Report)

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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