QUALCOMM (NASDAQ:QCOM) Shares Down 0.9% Following Insider Selling

QUALCOMM Incorporated (NASDAQ:QCOM) shares fell 0.9% during trading on Friday following insider selling activity. The stock traded as low as $177.91 and last traded at $178.43. 3,668,561 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 8,675,583 shares. The stock had previously closed at $180.10.

Specifically, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the transaction, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the transaction, the chief technology officer now owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The disclosure for this sale can be found here. Insiders sold a total of 44,260 shares of company stock worth $7,429,728 in the last quarter. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on QCOM. JPMorgan Chase & Co. boosted their price target on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday. Canaccord Genuity Group lifted their price objective on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday. Wolfe Research lifted their price objective on QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. Benchmark reissued a “buy” rating and set a $200.00 price target on shares of QUALCOMM in a report on Friday. Finally, Morgan Stanley boosted their price target on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $179.36.

QUALCOMM Stock Down 0.3 %

The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.88. The company has a market capitalization of $200.48 billion, a PE ratio of 24.15, a P/E/G ratio of 2.47 and a beta of 1.33. The business has a 50-day moving average of $167.69 and a 200 day moving average of $146.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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 business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. Equities research analysts predict that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

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

Institutional Investors Weigh In On QUALCOMM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QCOM. Norges Bank bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $2,507,978,000. International Assets Investment Management LLC grew its stake in shares of QUALCOMM by 12,998.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after buying an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of QUALCOMM by 1,543.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after buying an additional 2,659,323 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of QUALCOMM by 53.6% during the third quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock valued at $586,760,000 after buying an additional 1,842,868 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other 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.