QUALCOMM Sees Unusually High Options Volume (NASDAQ:QCOM)

QUALCOMM Incorporated (NASDAQ:QCOM) was the target of unusually large options trading on Tuesday. Traders bought 81,789 call options on the company. This represents an increase of 28% compared to the typical daily volume of 63,679 call options.

Insider Transactions at QUALCOMM

In other news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at $9,623.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Neil Martin sold 1,116 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now directly owns 54 shares in the company, valued at $9,623.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,185 shares of company stock worth $8,206,875. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Several institutional investors have recently modified their holdings of QCOM. WFA Asset Management Corp bought a new stake in QUALCOMM in the first quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. grew its position in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after buying an additional 157 shares during the period. Richardson Capital Management LLC bought a new stake in shares of QUALCOMM in the 1st quarter valued at about $37,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $32,000. Finally, Cherry Tree Wealth Management LLC boosted its stake in QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 115 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $227.09 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The firm has a 50 day simple moving average of $189.61 and a 200 day simple moving average of $165.57. QUALCOMM has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The firm has a market cap of $253.43 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.71 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Sell-side analysts predict that QUALCOMM will post 7.83 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.50%. QUALCOMM’s dividend payout ratio is presently 45.70%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. TD Cowen lifted their price objective on QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Mizuho lifted their price target on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Evercore ISI assumed coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective for the company. Piper Sandler lifted their target price on shares of QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, HSBC increased their price target on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $188.74.

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.