QUALCOMM Incorporated (NASDAQ:QCOM) CFO Sells $91,439.28 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CFO Akash J. Palkhiwala sold 648 shares of the business’s stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $141.11, for a total value of $91,439.28. Following the completion of the transaction, the chief financial officer now directly owns 56,445 shares in the company, valued at $7,964,953.95. This represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

QUALCOMM Stock Performance

QUALCOMM stock traded down $9.19 during mid-day trading on Thursday, reaching $134.40. 14,621,913 shares of the stock traded hands, compared to its average volume of 8,849,099. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The business’s 50-day moving average is $157.89 and its 200-day moving average is $161.88. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a market capitalization of $148.65 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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 return on equity of 39.51% and a net margin of 25.94%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.53%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Mizuho reduced their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Benchmark restated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Piper Sandler lowered their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Evercore ISI decreased their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $202.64.

Hedge Funds Weigh In On QUALCOMM

Hedge funds have recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $26,000. Banque Transatlantique SA bought a new position in QUALCOMM during the fourth quarter valued at $26,000. CKW Financial Group bought a new position in QUALCOMM during the fourth quarter valued at $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter worth $29,000. Finally, Sunbeam Capital Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

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.