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 dated 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 owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

QUALCOMM Price Performance

Shares of 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. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $233.02 billion, a PE ratio of 28.06, a PEG ratio of 2.53 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOMGet Free Report) last released 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 during the quarter, compared to analysts’ expectations of $9.32 billion. On average, equities research analysts predict that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.63%. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Hedge Funds Weigh In On QUALCOMM

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of QUALCOMM during the fourth quarter worth $2,507,978,000. Matrix Capital Management Company LP bought a new position in shares of QUALCOMM in the 1st quarter worth about $1,171,516,000. International Assets Investment Management LLC boosted its position in shares of QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of QUALCOMM by 1,543.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after buying an additional 2,659,323 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after acquiring an additional 1,909,025 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Susquehanna increased their price objective on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Wells Fargo & Company raised their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. UBS Group boosted their price target on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, Barclays lifted their target price on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $192.96.

Check Out Our Latest Research Report on QCOM

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.

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

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