QUALCOMM Incorporated (NASDAQ:QCOM) Director Sells $616,684.86 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM) Director Neil Smit sold 3,069 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the sale, the director now owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

QUALCOMM Stock Down 0.6 %

QCOM stock opened at $201.76 on Friday. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $207.95. The company has a market cap of $225.16 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 2.51 and a beta of 1.33. The business’s 50-day simple moving average is $174.64 and its 200 day simple moving average is $154.38. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. On average, research analysts anticipate that QUALCOMM Incorporated will post 7.81 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 issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.69%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is presently 43.01%.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors have recently added to or reduced their stakes in the stock. Atria Investments Inc boosted its holdings in QUALCOMM by 18.4% during the first quarter. Atria Investments Inc now owns 109,956 shares of the wireless technology company’s stock valued at $18,614,000 after purchasing an additional 17,098 shares in the last quarter. Swedbank AB acquired a new stake in QUALCOMM during the first quarter valued at approximately $174,644,000. LRI Investments LLC acquired a new stake in QUALCOMM during the first quarter valued at approximately $44,000. Wahed Invest LLC boosted its holdings in QUALCOMM by 15.3% during the first quarter. Wahed Invest LLC now owns 21,965 shares of the wireless technology company’s stock valued at $3,719,000 after purchasing an additional 2,909 shares in the last quarter. Finally, New Covenant Trust Company N.A. acquired a new stake in QUALCOMM during the first quarter valued at approximately $134,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Benchmark restated a “buy” rating and set a $200.00 target price on shares of QUALCOMM in a report on Friday, May 3rd. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a report on Thursday, May 2nd. TD Cowen raised their target price on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Wells Fargo & Company raised their target price on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. raised their target price on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $180.48.

QUALCOMM Company Profile

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.