Insider Selling: QUALCOMM Incorporated (NASDAQ:QCOM) Major Shareholder Sells 412,500 Shares of Stock

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded up $0.74 on Thursday, reaching $148.34. 5,979,884 shares of the company's stock were exchanged, compared to its average volume of 8,820,106. The firm has a market capitalization of $162.88 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The business's 50-day moving average is $144.83 and its two-hundred day moving average is $155.88. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company's quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.44 earnings per share. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.40%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is currently 36.25%.

Analyst Ratings Changes

QCOM has been the topic of a number of recent research reports. Benchmark reduced their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. JPMorgan Chase & Co. reissued an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. Citigroup reduced their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $192.08.

Hedge Funds Weigh In On QUALCOMM

Several institutional investors have recently modified their holdings of the company. Strs Ohio bought a new position in shares of QUALCOMM during the first quarter worth about $56,447,000. GK Wealth Management LLC grew its position in shares of QUALCOMM by 15.8% during the first quarter. GK Wealth Management LLC now owns 3,464 shares of the wireless technology company's stock worth $532,000 after acquiring an additional 472 shares during the last quarter. Jacobi Capital Management LLC grew its position in QUALCOMM by 3.4% in the 1st quarter. Jacobi Capital Management LLC now owns 19,029 shares of the wireless technology company's stock valued at $2,923,000 after buying an additional 618 shares in the last quarter. Advisors Capital Management LLC grew its position in QUALCOMM by 0.8% in the 1st quarter. Advisors Capital Management LLC now owns 449,245 shares of the wireless technology company's stock valued at $69,009,000 after buying an additional 3,477 shares in the last quarter. Finally, Chelsea Counsel Co. grew its position in QUALCOMM by 965.3% in the 1st quarter. Chelsea Counsel Co. now owns 5,518 shares of the wireless technology company's stock valued at $848,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

QUALCOMM Company Profile

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.