QUALCOMM Incorporated (NASDAQ:QCOM) Insider Heather S. Ace Sells 1,600 Shares

Key Points

• Insider Heather S. Ace sold 1,600 shares of QUALCOMM at $146.40 each, resulting in a total transaction value of $234,240 and a 7.02% decrease in their ownership.
• QUALCOMM reported significant quarterly earnings of $2.77 per share, exceeding analysts' estimates, and recorded revenues of $10.37 billion, a 10.4% increase year-over-year.
• The company declared a quarterly dividend of $0.89 per share, with a payout ratio of 36.25%, set to be paid on September 25th to shareholders of record on September 4th.

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the transaction, the insider owned 21,193 shares of the company's stock, valued at $3,102,655.20. The trade was a 7.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

QUALCOMM Price Performance

QUALCOMM stock traded up $1.43 during trading hours on Friday, reaching $148.19. 12,700,280 shares of the stock were exchanged, compared to its average volume of 8,540,689. The stock has a 50 day moving average of $155.05 and a two-hundred day moving average of $155.00. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $182.10. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The company has a market cap of $162.71 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.44%. The business had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the business earned $2.33 EPS. The firm's quarterly revenue was up 10.4% on a year-over-year basis. Equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.4%. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new stake in QUALCOMM in the 4th quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC grew its position in shares of QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 70 shares during the period. Vermillion & White Wealth Management Group LLC raised its stake in shares of QUALCOMM by 122.4% in the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company's stock valued at $26,000 after buying an additional 93 shares during the period. WFA Asset Management Corp bought a new stake in QUALCOMM in the 1st quarter valued at about $27,000. Finally, Sunbeam Capital Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter worth about $29,000. Institutional investors own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on QCOM. Susquehanna dropped their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Robert W. Baird dropped their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday. Wall Street Zen raised shares of QUALCOMM from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Piper Sandler cut their target price on shares of QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $181.91.

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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