Akash Palkhiwala Sells 3,333 Shares of QUALCOMM (NASDAQ:QCOM) Stock

Key Points

• Akash Palkhiwala, CFO of QUALCOMM, sold 3,333 shares of stock valued at $522,814.38, reducing his overall position by 7.71%.
• QUALCOMM reported a 10.4% year-over-year increase in revenue, with $10.37 billion for the quarter, and earnings per share of $2.77, exceeding estimates.
• The company declared a quarterly dividend of $0.89 per share to be paid on September 25th, with a yield of 2.2%.

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) CFO Akash Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $156.86, for a total value of $522,814.38. Following the completion of the transaction, the chief financial officer directly owned 39,874 shares in the company, valued at $6,254,635.64. This represents a 7.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

QUALCOMM Trading Down 1.2%

QCOM traded down $1.95 during trading on Tuesday, reaching $158.78. The company had a trading volume of 7,516,210 shares, compared to its average volume of 6,603,527. The firm's 50-day simple moving average is $156.39 and its 200 day simple moving average is $152.49. The company has a market cap of $171.32 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 2.34 and a beta of 1.21. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.10. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The company had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the previous year, the business posted $2.33 EPS. The business's revenue for the quarter was up 10.4% on a year-over-year basis. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's payout ratio is 34.33%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on QCOM shares. Sanford C. Bernstein set a $185.00 target price on QUALCOMM and gave the company an "outperform" rating in a research note on Monday, July 28th. Arete Research set a $200.00 price target on QUALCOMM in a report on Tuesday, August 26th. Citigroup reiterated a "hold" rating on shares of QUALCOMM in a report on Thursday, July 17th. Piper Sandler reduced their price target on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Finally, Bank of America reduced their price target on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $182.82.

Institutional Investors Weigh In On QUALCOMM

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in QUALCOMM by 565.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock worth $19,098,000 after purchasing an additional 105,631 shares during the last quarter. PFG Advisors increased its position in QUALCOMM by 8.0% in the 1st quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock worth $663,000 after buying an additional 321 shares during the period. Teza Capital Management LLC bought a new position in QUALCOMM in the 4th quarter worth approximately $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in QUALCOMM by 3.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock worth $28,979,000 after buying an additional 6,017 shares during the period. Finally, Russell Investments Group Ltd. increased its position in QUALCOMM by 12.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company's stock worth $203,904,000 after buying an additional 145,509 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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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