QUALCOMM Incorporated (NASDAQ:QCOM) CFO Sells $497,850.00 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

QUALCOMM Price Performance

Shares of QCOM traded up $2.54 during trading hours on Wednesday, hitting $168.32. 4,482,759 shares of the company were exchanged, compared to its average volume of 9,190,903. The firm has a fifty day simple moving average of $168.61 and a 200-day simple moving average of $182.15. The company has a market capitalization of $187.51 billion, a PE ratio of 22.28, a PEG ratio of 1.86 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Announces Dividend

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

Institutional Investors Weigh In On QUALCOMM

Several hedge funds have recently made changes to their positions in the company. HWG Holdings LP purchased a new position in QUALCOMM during the 2nd quarter valued at about $30,000. WFA Asset Management Corp purchased a new position in QUALCOMM during the first quarter valued at approximately $27,000. Financial Connections Group Inc. purchased a new stake in QUALCOMM in the 2nd quarter worth approximately $32,000. Aspect Partners LLC boosted its stake in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the period. Finally, McClarren Financial Advisors Inc. grew its holdings in shares of QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on QCOM shares. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Friday, August 2nd. Finally, Tigress Financial increased their price objective on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.67.

About QUALCOMM

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.