Insider Selling: QUALCOMM Incorporated (NASDAQ:QCOM) CTO Sells 8,000 Shares of Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The sale was disclosed in a document filed with the SEC, which is available through this link.

QUALCOMM Stock Down 0.3 %

Shares of NASDAQ:QCOM opened at $179.64 on Monday. The business has a 50-day moving average price of $167.69 and a 200 day moving average price of $147.08. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $200.48 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.46 and a beta of 1.33. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $183.19.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 43.01%.

Hedge Funds Weigh In On QUALCOMM

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in QUALCOMM by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after acquiring an additional 483,390 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after acquiring an additional 1,909,025 shares during the period. Morgan Stanley boosted its holdings in QUALCOMM by 2.2% during the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after acquiring an additional 438,660 shares during the period. Norges Bank purchased a new position in QUALCOMM during the 4th quarter valued at about $2,507,978,000. Finally, Northern Trust Corp boosted its holdings in QUALCOMM by 3.5% during the 3rd quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock valued at $1,365,092,000 after acquiring an additional 415,398 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on QCOM shares. UBS Group increased their price objective on QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday. Canaccord Genuity Group increased their price objective on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday. Wolfe Research increased their price objective on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday. HSBC increased their price objective on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, Rosenblatt Securities increased their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $179.36.

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.