Akash J. Palkhiwala Sells 3,000 Shares of QUALCOMM Incorporated (NASDAQ:QCOM) Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at $10,716,927. This represents a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

QUALCOMM Trading Up 1.1 %

NASDAQ QCOM opened at $172.15 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52 week low of $148.90 and a 52 week high of $230.63. The business has a 50 day moving average price of $162.64 and a 200-day moving average price of $165.50. The company has a market cap of $190.40 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly 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 net margin of 25.94% and a return on equity of 39.51%. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Analyst Ratings Changes

QCOM has been the topic of a number of research reports. Morgan Stanley reduced their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Melius Research started coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Institutional Trading of QUALCOMM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock valued at $17,471,231,000 after buying an additional 707,468 shares during the last quarter. State Street Corp lifted its stake in QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after acquiring an additional 870,814 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 worth $4,262,826,000 after acquiring an additional 670,432 shares during the last quarter. Norges Bank bought a new stake in shares of QUALCOMM in the 4th quarter worth $2,721,882,000. Finally, Amundi raised its holdings in shares of QUALCOMM by 36.6% in the fourth 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 last quarter. 74.35% of the stock is owned by institutional investors.

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.