QUALCOMM Incorporated (NASDAQ:QCOM) CFO Sells $486,951.30 in Stock

by · The Cerbat Gem

QUALCOMM Incorporated (NASDAQ:QCOM – Get Free Report) CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $146.10, for a total value of $486,951.30. Following the sale, the chief financial officer now directly owns 49,779 shares in the company, valued at $7,272,711.90. This trade represents a 6.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

QUALCOMM Trading Up 0.1%

QCOM stock opened at $149.05 on Thursday. The company has a market capitalization of $163.66 billion, a PE ratio of 15.92, a P/E/G ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The firm’s 50-day moving average is $143.81 and its 200 day moving average is $155.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.44 EPS. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on QCOM. Robert W. Baird decreased their price objective on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Piper Sandler decreased their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Citigroup decreased their price target on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Benchmark decreased their price target on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Finally, Loop Capital decreased their price target on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $189.88.

Get Our Latest Stock Report on QUALCOMM

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in QCOM. Vanguard Group Inc. increased its position in QUALCOMM by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 114,368,470 shares of the wireless technology company’s stock valued at $17,568,141,000 after purchasing an additional 638,284 shares during the period. Geode Capital Management LLC increased its position in QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock valued at $4,262,826,000 after purchasing an additional 670,432 shares during the period. Norges Bank purchased a new position in QUALCOMM during the 4th quarter valued at about $2,721,882,000. Amundi increased its position in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. Finally, Northern Trust Corp increased its position in QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

About QUALCOMM

(Get Free Report)

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.

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