Qualcomm (NASDAQ:QCOM) Stock: Insider Sylvia Acevedo Sells 61 Shares

Key Points

• Qualcomm director Sylvia Acevedo sold 61 shares for $10,129, reducing her direct holdings by 0.67% to 9,008 shares.
• Qualcomm shares rose 5.5% during Friday trading. The company slightly beat quarterly EPS and revenue estimates, although revenue fell 8.4% year over year.
• The company declared a quarterly dividend of $0.92 per share, equivalent to an annualized yield of about 2.2%.

Qualcomm Incorporated (NASDAQ:QCOM - Get Free Report) Director Sylvia Acevedo sold 61 shares of the company's stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $166.05, for a total value of $10,129.05. Following the completion of the transaction, the director directly owned 9,008 shares in the company, valued at approximately $1,495,778.40. The trade was a 0.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Qualcomm Stock Up 5.5%

Shares of QCOM traded up $8.66 during midday trading on Friday, reaching $165.41. 19,678,727 shares of the stock were exchanged, compared to its average volume of 10,479,039. The company has a market cap of $176.63 billion, a price-to-earnings ratio of 18.33, a P/E/G ratio of 3.65 and a beta of 1.70. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92. The firm has a 50 day simple moving average of $178.11 and a 200-day simple moving average of $169.52.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.16 by $0.01. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The business had revenue of $10.44 billion during the quarter, compared to analysts' expectations of $10.12 billion. During the same quarter in the previous year, the business posted $3.00 EPS. The firm's quarterly revenue was down 8.4% compared to the same quarter last year. Research analysts forecast that Qualcomm Incorporated will post 7.16 EPS for the current year.

Qualcomm Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, December 3rd. Qualcomm's dividend payout ratio (DPR) is 28.98%.

Institutional Trading of Qualcomm

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Qualcomm in the second quarter valued at approximately $17,583,115,000. State Street Corp boosted its position in shares of Qualcomm by 1.3% during the second quarter. State Street Corp now owns 52,763,263 shares of the wireless technology company's stock worth $9,750,123,000 after buying an additional 671,537 shares during the period. Van ECK Associates Corp boosted its position in shares of Qualcomm by 22.7% during the second quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company's stock worth $3,178,872,000 after buying an additional 3,179,720 shares during the period. Amundi boosted its position in shares of Qualcomm by 94.1% during the second quarter. Amundi now owns 10,195,741 shares of the wireless technology company's stock worth $1,884,071,000 after buying an additional 4,942,908 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Qualcomm in the 2nd quarter worth approximately $1,523,930,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group reissued a "neutral" rating on shares of Qualcomm in a research note on Thursday. Cantor Fitzgerald reduced their price objective on shares of Qualcomm from $200.00 to $165.00 and set a "neutral" rating on the stock in a research note on Monday, July 27th. Wells Fargo & Company lowered their target price on shares of Qualcomm from $265.00 to $170.00 and set an "equal weight" rating for the company in a report on Thursday, July 30th. KeyCorp reiterated a "sector weight" rating on shares of Qualcomm in a research report on Wednesday, September 9th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Qualcomm in a research note on Monday, September 21st. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-one have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $197.55.

Key Stories Impacting Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm’s fiscal Q4 revenue of $10.44 billion and non-GAAP EPS of $2.17 edged past estimates. Automotive growth and the company’s data-center ambitions offer potential sources of diversification. Article: Is Qualcomm Stock Worth Buying After Mixed Q4 Results?
• Positive Sentiment: A broader market recovery helped lift shares after Thursday’s sharp sell-off, as investors reassessed fears that election-related policy changes could slow data-center investment. Article: Tech executives react to post-midterm AI sell-off
• Positive Sentiment: Alphabet disclosed a $548 million Qualcomm stake, a potentially supportive signal of institutional investor interest. Article: Alphabet discloses Qualcomm stake
• Positive Sentiment: Qualcomm is also set to provide chips and software for SpaceX’s planned terrestrial mobile network, adding a potential opportunity beyond its traditional handset market. Article: SpaceX Qualcomm 5G deal
• Neutral Sentiment: EVP Ann Chaplin sold 1,501 shares under a pre-arranged Rule 10b5-1 plan and retained 27,271 shares; the planned sale may carry limited signaling weight. SEC filing
• Negative Sentiment: Despite the beat, year-over-year revenue and earnings declined, and weak profit guidance, handset softness and rising component costs are weighing on expectations. Analysts have also cut price targets, while concerns about data-center investment and margins remain. Article: Qualcomm beat earnings, but its fastest-growing businesses have a catch

Qualcomm Company Profile

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications.

Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.

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