QUALCOMM Incorporated (NASDAQ:QCOM) Director Sells $616,684.86 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) Director Neil Smit sold 3,069 shares of the firm's stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the sale, the director now owns 5,902 shares in the company, valued at approximately $1,185,947.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

QUALCOMM Trading Up 1.6 %

QCOM traded up $3.09 during trading hours on Tuesday, reaching $200.85. 11,447,541 shares of the company's stock traded hands, compared to its average volume of 8,614,754. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $172.74 and a 200 day moving average price of $153.13. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $201.98. The firm has a market capitalization of $224.15 billion, a PE ratio of 26.58, a PEG ratio of 2.40 and a beta of 1.33.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM's previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.69%. QUALCOMM's dividend payout ratio is presently 43.01%.

Analyst Ratings Changes

QCOM has been the topic of several research reports. Susquehanna raised their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a "positive" rating in a research report on Wednesday, April 10th. Morgan Stanley lifted their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an "equal weight" rating in a report on Thursday, May 2nd. Cantor Fitzgerald reissued a "neutral" rating and set a $190.00 target price on shares of QUALCOMM in a research note on Thursday, May 2nd. Bank of America increased their price objective on shares of QUALCOMM from $173.00 to $180.00 and gave the company a "buy" rating in a report on Thursday, May 2nd. Finally, UBS Group raised their target price on shares of QUALCOMM from $165.00 to $175.00 and gave the company a "neutral" rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM presently has an average rating of "Moderate Buy" and a consensus price target of $180.48.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QCOM. Financial Gravity Asset Management Inc. raised its stake in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 122 shares in the last quarter. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the 1st quarter worth $27,000. CarsonAllaria Wealth Management Ltd. grew its position in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company's stock worth $30,000 after buying an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of QUALCOMM during the 4th quarter worth $32,000. Finally, Cherry Tree Wealth Management LLC increased its stake in shares of QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company's stock valued at $34,000 after buying an additional 115 shares during the period. 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.

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