QUALCOMM Incorporated (NASDAQ:QCOM) CAO Sells $218,858.76 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) CAO Neil Martin sold 1,116 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares in the company, valued at approximately $70,207.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Neil Martin also recently made the following trade(s):

• On Tuesday, March 5th, Neil Martin sold 689 shares of QUALCOMM stock. The stock was sold at an average price of $160.64, for a total value of $110,680.96.

QUALCOMM Trading Up 1.0 %

Shares of NASDAQ QCOM traded up $2.08 during trading hours on Wednesday, hitting $202.93. The company's stock had a trading volume of 11,157,750 shares, compared to its average volume of 8,640,197. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The stock has a market cap of $226.47 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 2.45 and a beta of 1.33. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $204.84. The business has a 50-day simple moving average of $173.30 and a 200-day simple moving average of $153.70.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The company had revenue of $9.39 billion for the quarter, compared to analysts' expectations of $9.32 billion. On average, analysts anticipate that QUALCOMM Incorporated will post 7.81 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.68%. QUALCOMM's dividend payout ratio (DPR) is 43.01%.

Institutional Trading of QUALCOMM

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $2,507,978,000. Matrix Capital Management Company LP purchased a new position in shares of QUALCOMM during the first quarter valued at approximately $1,171,516,000. International Assets Investment Management LLC lifted its holdings in shares of QUALCOMM by 12,998.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company's stock valued at $434,780,000 after purchasing an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of QUALCOMM by 1,543.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company's stock valued at $409,531,000 after purchasing an additional 2,659,323 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company's stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on QCOM. JPMorgan Chase & Co. increased their price objective on QUALCOMM from $170.00 to $185.00 and gave the stock an "overweight" rating in a research report on Thursday, May 2nd. Wells Fargo & Company increased their target price on QUALCOMM from $120.00 to $140.00 and gave the company an "underweight" rating in a research note on Thursday, May 2nd. Evercore ISI initiated coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an "in-line" rating and a $177.00 target price on the stock. Barclays increased their target price on QUALCOMM from $155.00 to $185.00 and gave the company an "overweight" rating in a research note on Thursday, May 2nd. Finally, HSBC increased their target price on QUALCOMM from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $180.48.

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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