QUALCOMM Incorporated (NASDAQ:QCOM) CFO Sells $523,308.34 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now owns 59,778 shares in the company, valued at $9,374,385.96. This represents a 5.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

QUALCOMM Stock Performance

NASDAQ:QCOM traded down $3.55 on Monday, hitting $153.62. The stock had a trading volume of 9,591,092 shares, compared to its average volume of 8,061,494. The business’s 50-day simple moving average is $164.84 and its two-hundred day simple moving average is $165.47. The stock has a market cap of $169.90 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last posted 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 return on equity of 39.51% and a net margin of 25.94%. As a group, research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.21%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on QCOM shares. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Piper Sandler cut their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Evercore ISI dropped their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Finally, Susquehanna reduced their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $205.32.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors have recently bought and sold shares of QCOM. Capital Advisors Inc. OK increased its holdings in QUALCOMM by 30.7% in the 3rd quarter. Capital Advisors Inc. OK now owns 4,387 shares of the wireless technology company’s stock worth $746,000 after acquiring an additional 1,030 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of QUALCOMM by 5.2% in the third quarter. Farther Finance Advisors LLC now owns 16,171 shares of the wireless technology company’s stock worth $2,750,000 after purchasing an additional 793 shares during the period. Chicago Partners Investment Group LLC increased its stake in shares of QUALCOMM by 8.1% in the third quarter. Chicago Partners Investment Group LLC now owns 11,778 shares of the wireless technology company’s stock worth $1,962,000 after purchasing an additional 881 shares in the last quarter. Conning Inc. raised its position in shares of QUALCOMM by 31.9% during the 3rd quarter. Conning Inc. now owns 233,713 shares of the wireless technology company’s stock valued at $39,743,000 after purchasing an additional 56,578 shares during the period. Finally, Northern Financial Advisors Inc lifted its stake in shares of QUALCOMM by 8.8% during the 3rd quarter. Northern Financial Advisors Inc now owns 3,644 shares of the wireless technology company’s stock valued at $620,000 after buying an additional 294 shares in 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.