QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. The sale was disclosed in a document filed with the SEC, which is available at this link.
QUALCOMM Stock Performance
QUALCOMM stock opened at $168.32 on Thursday. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company's 50-day moving average is $168.35 and its two-hundred day moving average is $182.05. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The company has a market cap of $187.51 billion, a PE ratio of 22.62, a PEG ratio of 1.86 and a beta of 1.28.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $9.39 billion for the quarter, compared to analysts' expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Equities analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.
QUALCOMM Announces Dividend
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The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.02%. The ex-dividend date was Thursday, September 5th. QUALCOMM's payout ratio is 45.70%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on QCOM shares. KeyCorp lifted their price target on shares of QUALCOMM from $205.00 to $225.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 9th. Citigroup upped their target price on shares of QUALCOMM from $170.00 to $200.00 and gave the company a "neutral" rating in a research note on Monday, July 15th. Cantor Fitzgerald restated a "neutral" rating and set a $215.00 price target on shares of QUALCOMM in a research note on Thursday, August 1st. Wells Fargo & Company upped their price objective on QUALCOMM from $140.00 to $170.00 and gave the company an "underweight" rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. cut their target price on QUALCOMM from $230.00 to $210.00 and set an "overweight" rating for the company in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.67.
Get Our Latest Analysis on QUALCOMM
Hedge Funds Weigh In On QUALCOMM
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HWG Holdings LP acquired a new stake in shares of QUALCOMM in the 2nd quarter valued at approximately $30,000. WFA Asset Management Corp acquired a new stake in QUALCOMM in the first quarter worth $27,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM during the second quarter worth $32,000. Aspect Partners LLC grew its holdings in shares of QUALCOMM by 71.8% in 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. increased its position in shares of QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company's stock valued at $40,000 after buying an additional 60 shares in the last quarter. 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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