Insider Selling: QUALCOMM Incorporated (NASDAQ:QCOM) CFO Sells 648 Shares of Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CFO Akash J. Palkhiwala sold 648 shares of the firm’s stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $141.11, for a total transaction of $91,439.28. Following the sale, the chief financial officer now directly owns 56,445 shares in the company, valued at approximately $7,964,953.95. The trade was a 1.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

QUALCOMM Stock Performance

QCOM opened at $139.25 on Friday. 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 stock has a market capitalization of $154.01 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 2.01 and a beta of 1.28. The company has a fifty day moving average of $156.49 and a 200 day moving average of $161.46. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Institutional Trading of QUALCOMM

Hedge funds have recently modified their holdings of the company. Nordea Investment Management AB raised its stake in QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after purchasing an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after buying an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of QUALCOMM in the 4th quarter valued at about $2,058,000. Burney Co. grew its position in QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after acquiring an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC bought a new stake in QUALCOMM during the fourth quarter worth approximately $240,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on QCOM. Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Evercore ISI dropped their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. TD Cowen dropped their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Barclays reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Hold” and a consensus price target of $201.21.

QUALCOMM Company Profile

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.