Akash J. Palkhiwala Sells 3,000 Shares of QUALCOMM Incorporated (NASDAQ:QCOM) Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the sale, the chief financial officer now owns 63,115 shares in the company, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

QUALCOMM Trading Up 1.1 %

QUALCOMM stock opened at $172.15 on Friday. The stock has a market cap of $190.40 billion, a P/E ratio of 18.39, a PEG ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a fifty-two week low of $148.90 and a fifty-two week high of $230.63. The firm’s fifty day moving average price is $162.64 and its 200-day moving average price is $165.50. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.98%. QUALCOMM’s payout ratio is presently 36.32%.

Analyst Ratings Changes

A number of research firms have recently commented on QCOM. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company raised their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Loop Capital initiated coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective on the stock. Finally, Morgan Stanley reduced their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors have recently made changes to their positions in the stock. Fiduciary Alliance LLC boosted its stake in shares of QUALCOMM by 34.9% in the 3rd quarter. Fiduciary Alliance LLC now owns 4,216 shares of the wireless technology company’s stock valued at $717,000 after purchasing an additional 1,091 shares in the last quarter. Harrington Investments INC boosted its position in QUALCOMM by 0.6% during the third quarter. Harrington Investments INC now owns 22,638 shares of the wireless technology company’s stock valued at $3,850,000 after buying an additional 130 shares during the period. CX Institutional grew its stake in shares of QUALCOMM by 334.2% during the third quarter. CX Institutional now owns 24,960 shares of the wireless technology company’s stock valued at $4,244,000 after buying an additional 19,212 shares during the last quarter. Wesbanco Bank Inc. increased its holdings in shares of QUALCOMM by 0.7% in the third quarter. Wesbanco Bank Inc. now owns 13,590 shares of the wireless technology company’s stock worth $2,311,000 after buying an additional 88 shares during the period. Finally, Creative Planning lifted its stake in shares of QUALCOMM by 0.5% in the 3rd quarter. Creative Planning now owns 403,811 shares of the wireless technology company’s stock valued at $68,147,000 after acquiring an additional 2,086 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

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.