QUALCOMM (NASDAQ:QCOM) Stock Price Down 1.2% After Insider Selling

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) dropped 1.2% during trading on Tuesday following insider selling activity. The stock traded as low as $151.35 and last traded at $151.70. Approximately 2,166,903 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 8,353,350 shares. The stock had previously closed at $153.62.

Specifically, CFO Akash J. Palkhiwala sold 3,337 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

QCOM has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Loop Capital assumed coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price on the stock. Wells Fargo & Company lifted their target price on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Finally, Benchmark restated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong 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 $205.32.

QUALCOMM Trading Up 0.5 %

The stock has a market cap of $170.83 billion, a P/E ratio of 16.50, a P/E/G ratio of 2.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock’s fifty day moving average is $164.75 and its 200 day moving average is $165.34.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates 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, equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.20%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Hedge Funds Weigh In On QUALCOMM

Hedge funds have recently added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM during the 4th quarter worth $26,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM during the 4th quarter worth $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the fourth quarter valued at about $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM in the fourth quarter valued at about $29,000. Finally, Sunbeam Capital Management LLC purchased a new stake in QUALCOMM in the fourth quarter worth about $29,000. 74.35% of the stock is currently owned by institutional investors.

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.