QUALCOMM Incorporated (NASDAQ:QCOM) CTO James H. Thompson Sells 8,000 Shares of Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $200.03 on Tuesday. The firm has a market capitalization of $223.23 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 2.42 and a beta of 1.27. The stock has a fifty day moving average of $195.82 and a 200 day moving average of $169.67. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. As a group, research analysts expect that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.70%. QUALCOMM’s dividend payout ratio is 45.70%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in QCOM. Norges Bank bought a new position in QUALCOMM in 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 lifted its position in 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 acquiring an additional 2,983,206 shares during the period. Pacer Advisors Inc. grew its holdings in QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after purchasing 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% during the fourth 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 purchasing an additional 1,909,025 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 target price on shares of QUALCOMM in a research note on Thursday, May 2nd. TD Cowen raised their price objective on shares of QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Citigroup upped their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Argus raised their price target on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Finally, Evercore ISI initiated coverage on QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

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.