QUALCOMM Incorporated (NASDAQ:QCOM) CFO Sells $616,830.00 in Stock

QUALCOMM Incorporated (NASDAQ:QCOMGet Free Report) CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a filing with the SEC, which is available through this link.

QUALCOMM Trading Up 0.8 %

NASDAQ:QCOM opened at $208.80 on Thursday. The firm has a 50 day moving average of $202.30 and a 200 day moving average of $172.96. The stock has a market capitalization of $233.02 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 2.53 and a beta of 1.27. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOMGet Free Report) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share 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 firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were paid a $0.85 dividend. The ex-dividend date of this dividend was 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 yield of 1.63%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. lifted its position in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares during the period. WFA Asset Management Corp purchased a new stake in QUALCOMM in the first quarter valued at approximately $27,000. CarsonAllaria Wealth Management Ltd. raised its position in 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 during the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in QUALCOMM during the 4th quarter valued at approximately $32,000. Finally, Cherry Tree Wealth Management LLC increased its stake in shares of QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 115 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on QCOM shares. Benchmark reiterated a “buy” rating and set a $200.00 price objective on shares of QUALCOMM in a research report on Friday, May 3rd. Robert W. Baird lifted their price target on QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Tigress Financial upped their price objective on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Citigroup boosted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Morgan Stanley upped 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.96.

View Our Latest Research Report on QUALCOMM

QUALCOMM Company Profile

(Get Free Report)

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.

Read More

Insider Buying and Selling by Quarter for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.