Insider Selling: QUALCOMM Incorporated (NASDAQ:QCOM) CFO Sells $509,400.00 in 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 stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the transaction, the chief financial officer now owns 63,115 shares in the company, valued at $10,716,927. This trade represents a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

QUALCOMM Stock Performance

QCOM stock opened at $172.23 on Friday. The company has a market cap of $190.49 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $148.90 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.79. The stock’s fifty day moving average price is $162.87 and its 200-day moving average price is $165.55.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.19 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.97%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on QCOM shares. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Loop Capital started coverage on QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Sanford C. Bernstein upped their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Melius Research began coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.32.

Hedge Funds Weigh In On QUALCOMM

Institutional investors and hedge funds have recently bought and sold shares of the stock. Reston Wealth Management LLC purchased a new position in QUALCOMM during the third quarter valued at $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the fourth quarter valued at about $26,000. CKW Financial Group bought a new stake in QUALCOMM during the fourth quarter valued at about $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM during the fourth quarter valued at about $29,000. Finally, CoreFirst Bank & Trust bought a new stake in QUALCOMM during the fourth quarter valued at about $33,000. 74.35% of the stock is currently owned by hedge funds and other 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.