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

QUALCOMM Incorporated (NASDAQ:QCOM) CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

QUALCOMM Stock Up 1.5 %

Shares of QCOM traded up $2.54 during mid-day trading on Wednesday, hitting $168.32. The company’s stock had a trading volume of 4,482,759 shares, compared to its average volume of 9,190,903. The firm has a market capitalization of $187.51 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.86 and a beta of 1.28. The company’s 50-day moving average is $168.61 and its 200-day moving average is $182.15. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.02%. QUALCOMM’s payout ratio is currently 45.70%.

Institutional Trading of QUALCOMM

Several hedge funds and other institutional investors have recently bought and sold shares of QCOM. Legal & General Group Plc boosted its holdings in QUALCOMM by 0.9% during the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after buying an additional 86,195 shares in the last quarter. City Holding Co. boosted its stake in shares of QUALCOMM by 3.5% during the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock worth $996,000 after acquiring an additional 199 shares in the last quarter. Federated Hermes Inc. grew its position in shares of QUALCOMM by 173.3% during the 2nd quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock valued at $167,781,000 after acquiring an additional 534,176 shares during the period. Heritage Wealth Management Inc. purchased a new position in shares of QUALCOMM in the 2nd quarter valued at about $1,539,000. Finally, BNP Paribas purchased a new position in QUALCOMM during the first quarter worth approximately $3,104,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Citigroup increased their price target on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Tigress Financial raised their price objective on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Robert W. Baird lifted their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $211.67.

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.