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 on Friday, April 4th. The stock was sold at an average price of $132.10, for a total transaction of $235,270.10. Following the completion of the transaction, the chief financial officer now owns 57,997 shares of the company’s stock, valued at $7,661,403.70. This trade represents a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

QUALCOMM Stock Performance

QCOM opened at $129.72 on Tuesday. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The company has a market cap of $143.47 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $160.91 and its 200 day moving average is $162.74.

QUALCOMM (NASDAQ:QCOM) last issued 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%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

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 $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on QCOM. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Benchmark restated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Barclays decreased their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Melius assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Finally, StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. One equities research 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 company. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM during the fourth quarter valued at approximately $26,000. Banque Transatlantique SA purchased a new position in shares of QUALCOMM during the 4th quarter valued at $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM during the 4th quarter valued at $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the 4th quarter worth $29,000. Finally, Sunbeam Capital Management LLC purchased a new stake in QUALCOMM in the 4th quarter worth $29,000. 74.35% of the stock is currently 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.