QUALCOMM (NASDAQ:QCOM) Trading Down 0.2% After Insider Selling

QUALCOMM Incorporated (NASDAQ:QCOM) was down 0.2% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $197.09 and last traded at $199.67. Approximately 1,529,778 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 9,287,072 shares. The stock had previously closed at $200.03.

Specifically, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the sale, the chief executive officer now owns 8,100 shares in the company, valued at approximately $1,466,100. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,185 shares of company stock valued at $8,456,475. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Evercore ISI assumed coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price target on the stock. Wells Fargo & Company raised their target price on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. Robert W. Baird raised their price target on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Bank of America raised their price target on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 31st. Finally, UBS Group raised their price objective on QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

QUALCOMM Stock Up 0.1 %

The company has a market cap of $223.38 billion, a P/E ratio of 26.84, a P/E/G ratio of 2.42 and a beta of 1.27. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $196.62 and its 200 day moving average is $170.08.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. The ex-dividend date was Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.70%. QUALCOMM’s payout ratio is 45.70%.

Institutional Investors Weigh In On QUALCOMM

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in QUALCOMM by 0.4% in the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after purchasing an additional 483,390 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of QUALCOMM by 8.1% in 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 acquiring an additional 1,909,025 shares during the period. Morgan Stanley raised its position in shares of QUALCOMM by 2.2% in the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after acquiring an additional 438,660 shares during the period. Norges Bank acquired a new position in shares of QUALCOMM in the fourth quarter worth about $2,507,978,000. Finally, Matrix Capital Management Company LP acquired a new position in shares of QUALCOMM in the first quarter worth about $1,171,516,000. 74.35% of the stock is 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.