QUALCOMM Incorporated (NASDAQ:QCOM) CFO Akash J. Palkhiwala Sells 3,333 Shares

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the sale, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

QUALCOMM Stock Down 0.1%

Shares of QCOM stock traded down $0.22 during mid-day trading on Thursday, hitting $162.11. The stock had a trading volume of 4,271,326 shares, compared to its average volume of 8,524,055. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $211.09. The firm's 50-day moving average is $150.75 and its two-hundred day moving average is $154.87. The firm has a market capitalization of $177.99 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. During the same period in the prior year, the business posted $2.44 EPS. The firm's quarterly revenue was up 17.0% on a year-over-year basis. On average, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were issued a $0.89 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.20%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Hedge Funds Weigh In On QUALCOMM

Several hedge funds have recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM during the 4th quarter valued at approximately $26,000. Banque Transatlantique SA acquired a new position in shares of QUALCOMM during the fourth quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC lifted its position in shares of QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 70 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its position in shares of QUALCOMM by 122.4% in the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 93 shares in the last quarter. Finally, WFA Asset Management Corp acquired a new stake in QUALCOMM during the 1st quarter worth $27,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on QCOM. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. Evercore ISI dropped their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Citigroup lowered their target price on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Loop Capital reduced their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has an average rating of "Hold" and a consensus price target of $186.96.

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.