QUALCOMM Incorporated (NASDAQ:QCOM) CFO Sells $235,270.10 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CFO Akash J. Palkhiwala sold 1,781 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the transaction, the chief financial officer now owns 57,997 shares in the company, valued at approximately $7,661,403.70. The trade was a 2.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $129.72 on Tuesday. The stock has a market capitalization of $143.47 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a fifty day moving average of $160.91 and a 200-day moving average of $162.74. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data 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 net margin of 25.94% and a return on equity of 39.51%. Equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in QUALCOMM in the 4th quarter worth $2,721,882,000. Amundi grew its stake 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 worth $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of QUALCOMM in the fourth quarter worth about $527,053,000. GAMMA Investing LLC increased its holdings in QUALCOMM by 20,700.4% during the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock valued at $501,192,000 after purchasing an additional 3,247,068 shares during the period. Finally, Geode Capital Management LLC raised its position in QUALCOMM by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on QCOM shares. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Barclays lowered their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Piper Sandler cut their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Melius initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Finally, Benchmark reaffirmed a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

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.