QUALCOMM Incorporated (NASDAQ:QCOM) Major Shareholder Sells $6,600,000.00 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

QUALCOMM Price Performance

QCOM stock traded down $3.12 on Friday, reaching $145.22. 13,752,285 shares of the company's stock were exchanged, compared to its average volume of 8,785,850. The stock has a fifty day moving average of $144.30 and a 200-day moving average of $155.59. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The firm has a market cap of $159.45 billion, a PE ratio of 15.51, a P/E/G ratio of 2.01 and a beta of 1.29. 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 posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM's revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.44 earnings per share. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.45%. QUALCOMM's dividend payout ratio is 36.25%.

Institutional Trading of QUALCOMM

Several large investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. lifted its position in shares of QUALCOMM by 21.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock valued at $4,239,000 after acquiring an additional 4,955 shares in the last quarter. Howard Bailey Securities LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $240,000. Greenup Street Wealth Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $2,256,000. Teza Capital Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $1,541,000. Finally, Purkiss Capital Advisors LLC purchased a new position in QUALCOMM during the fourth quarter worth about $303,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Loop Capital lowered their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Citigroup decreased 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. Wells Fargo & Company decreased their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Cantor Fitzgerald restated a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of "Hold" and an average price target of $192.08.

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.