Traders sold shares of QUALCOMM, Inc. (NASDAQ:QCOM) on strength during trading on Thursday after Vetr downgraded the stock from a strong-buy rating to a buy rating. $202.62 million flowed into the stock on the tick-up and $254.47 million flowed out of the stock on the tick-down, for a money net flow of $51.85 million out of the stock. Of all companies tracked, QUALCOMM had the 0th highest net out-flow for the day. QUALCOMM traded up $0.05 for the day and closed at $52.66
Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th. Mizuho reissued a “buy” rating on shares of QUALCOMM in a research report on Monday, May 1st. JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, May 2nd. Cowen and Company reissued an “outperform” rating and issued a $73.00 target price on shares of QUALCOMM in a research report on Wednesday, April 19th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $76.00 target price on shares of QUALCOMM in a research report on Wednesday, March 8th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $63.62.
In other QUALCOMM news, EVP James H. Thompson sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $52.53, for a total transaction of $1,313,250.00. Following the sale, the executive vice president now directly owns 76,246 shares in the company, valued at approximately $4,005,202.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann M. Livermore acquired 9,000 shares of the stock in a transaction dated Thursday, May 11th. The stock was acquired at an average price of $54.59 per share, for a total transaction of $491,310.00. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of QUALCOMM by 2,987.8% in the first quarter. BlackRock Inc. now owns 102,896,916 shares of the wireless technology company’s stock worth $5,900,110,000 after buying an additional 99,564,587 shares during the last quarter. Norges Bank bought a new position in QUALCOMM during the fourth quarter worth approximately $922,599,000. The Manufacturers Life Insurance Company bought a new position in QUALCOMM during the third quarter worth approximately $408,900,000. Nordea Investment Management AB boosted its position in QUALCOMM by 589.4% in the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock worth $339,007,000 after buying an additional 5,054,642 shares during the period. Finally, Capital World Investors boosted its position in QUALCOMM by 57.2% in the third quarter. Capital World Investors now owns 11,400,000 shares of the wireless technology company’s stock worth $780,900,000 after buying an additional 4,150,000 shares during the period. Institutional investors and hedge funds own 79.28% of the company’s stock.
The company has a market capitalization of $85.20 billion, a PE ratio of 19.22 and a beta of 1.31. The company has a 50-day moving average price of $54.68 and a 200-day moving average price of $59.97. QUALCOMM also was the recipient of some unusual options trading on Friday. Investors purchased 51,480 call options on the stock. This is an increase of 364% compared to the average daily volume of 11,084 call options.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 19th. The wireless technology company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.29. QUALCOMM had a return on equity of 20.25% and a net margin of 20.56%. The firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same period last year, the firm posted $1.04 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. Equities analysts predict that QUALCOMM, Inc. will post $4.23 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, May 31st will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, May 26th. This represents a $2.28 annualized dividend and a yield of 4.06%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.53. QUALCOMM’s dividend payout ratio (DPR) is 64.63%.
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QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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