QUALCOMM Incorporated (NASDAQ:QCOM) CFO Sells $465,853.41 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $139.77, for a total transaction of $465,853.41. Following the transaction, the chief financial officer now owns 53,112 shares of the company's stock, valued at approximately $7,423,464.24. The trade was a 5.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

QUALCOMM Trading Down 0.3 %

QCOM traded down $0.37 on Monday, reaching $139.44. 7,116,612 shares of the company's stock were exchanged, compared to its average volume of 8,877,257. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The company's 50 day moving average is $147.74 and its 200-day moving average is $158.35. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market cap of $154.22 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. The company 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 business's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 earnings per share. Equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.55%. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Institutional Investors Weigh In On QUALCOMM

Several institutional investors and hedge funds have recently modified their holdings of the stock. Eagle Strategies LLC boosted its holdings in QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after acquiring an additional 59 shares during the period. Clark Capital Management Group Inc. lifted its position in shares of QUALCOMM by 3.6% during the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after purchasing an additional 59 shares in the last quarter. TBH Global Asset Management LLC boosted its stake in shares of QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after purchasing an additional 63 shares during the period. PDS Planning Inc grew its holdings in QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after purchasing an additional 64 shares in the last quarter. Finally, Toth Financial Advisory Corp increased its stake in QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock worth $336,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. TD Cowen reduced their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Evercore ISI cut their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday. Barclays reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Finally, Citigroup lowered their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $192.58.

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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