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

by · The Cerbat Gem

QUALCOMM Incorporated (NASDAQ:QCOM – Get Free Report) CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

QUALCOMM Trading Down 0.0 %

Shares of QCOM stock opened at $168.90 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company’s 50-day moving average price is $168.00 and its 200-day moving average price is $181.97. The stock has a market cap of $188.49 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 1.86 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, equities analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Institutional Trading of QUALCOMM

A number of hedge funds and other institutional investors have recently modified their holdings of QCOM. Pine Haven Investment Counsel Inc increased its position in shares of QUALCOMM by 2.5% during the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after acquiring an additional 50 shares during the last quarter. Buffington Mohr McNeal raised its position in QUALCOMM by 3.9% in the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock valued at $279,000 after purchasing an additional 53 shares during the period. TRUE Private Wealth Advisors lifted its stake in QUALCOMM by 2.2% during the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after purchasing an additional 57 shares in the last quarter. Macroview Investment Management LLC grew its stake in shares of QUALCOMM by 10.5% in the second quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after buying an additional 57 shares in the last quarter. Finally, McClarren Financial Advisors Inc. raised its holdings in shares of QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after buying an additional 60 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. dropped their price target on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. Finally, Piper Sandler restated an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.67.

Get Our Latest Stock Report on QCOM

QUALCOMM Company Profile

(Get Free Report)

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.

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