QUALCOMM Incorporated (NASDAQ:QCOM) CTO James H. Thompson Sells 8,000 Shares of Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the transaction, the chief technology officer now directly owns 253,893 shares of the company’s stock, valued at $46,208,526. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

QUALCOMM Price Performance

Shares of QCOM opened at $179.64 on Friday. The firm has a 50-day simple moving average of $167.20 and a two-hundred day simple moving average of $146.11. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.88. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $183.19. The stock has a market cap of $200.48 billion, a PE ratio of 24.15, a P/E/G ratio of 2.47 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. As a group, analysts forecast that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.89%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is currently 43.01%.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Morgan Stanley lifted their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday. UBS Group upped their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Barclays raised their price target on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has given 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 $179.36.

Institutional Trading of QUALCOMM

Hedge funds have recently made changes to their positions in the business. Peoples Bank OH purchased a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $219,000. HF Advisory Group LLC purchased a new stake in QUALCOMM during the 3rd quarter worth about $629,000. Bank Hapoalim BM increased its holdings in shares of QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after acquiring an additional 9,192 shares during the last quarter. NewEdge Wealth LLC raised its position in shares of QUALCOMM by 120.2% during the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after acquiring an additional 11,285 shares in the last quarter. Finally, 1834 Investment Advisors Co. lifted its stake in QUALCOMM by 6.6% during the fourth quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after purchasing an additional 2,818 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

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.