QUALCOMM Incorporated (NASDAQ:QCOM) CAO Sells $218,858.76 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the sale, the chief accounting officer now owns 358 shares of the company’s stock, valued at $70,207.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Neil Martin also recently made the following trade(s):

• On Tuesday, March 5th, Neil Martin sold 689 shares of QUALCOMM stock. The stock was sold at an average price of $160.64, for a total value of $110,680.96.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $210.36 on Friday. 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 Incorporated has a 52 week low of $101.47 and a 52 week high of $211.30. The firm has a fifty day simple moving average of $175.50 and a two-hundred day simple moving average of $155.00. The stock has a market capitalization of $234.76 billion, a P/E ratio of 28.27, a PEG ratio of 2.49 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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 net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. On average, analysts expect that QUALCOMM Incorporated will post 7.83 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.62%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 43.01%.

Analysts Set New Price Targets

QCOM has been the subject of several analyst reports. Rosenblatt Securities raised their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Wells Fargo & Company upped their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. Bank of America lifted their price objective on QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Barclays raised their target price on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, TD Cowen raised their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $180.48.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QCOM. Norges Bank bought a new stake in QUALCOMM during the fourth quarter valued at about $2,507,978,000. Matrix Capital Management Company LP acquired a new position in QUALCOMM during the 1st quarter valued at approximately $1,171,516,000. International Assets Investment Management LLC raised its stake in QUALCOMM by 12,998.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after acquiring an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. lifted its holdings 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 worth $409,531,000 after purchasing an additional 2,659,323 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings 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 worth $3,664,418,000 after purchasing an additional 1,909,025 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

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.