QUALCOMM Incorporated (NASDAQ:QCOM) CFO Akash J. Palkhiwala Sells 3,000 Shares

QUALCOMM Incorporated (NASDAQ:QCOM) CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

QUALCOMM Stock Performance

QUALCOMM stock traded up $2.54 on Wednesday, hitting $168.32. The company’s stock had a trading volume of 4,482,759 shares, compared to its average volume of 9,190,903. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The firm has a market cap of $187.51 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 1.86 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average price of $168.61 and a 200-day moving average price of $182.15.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, equities analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.02%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analyst Ratings Changes

A number of brokerages recently issued reports on QCOM. Barclays upped their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Rosenblatt Securities increased their price target on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Piper Sandler restated an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. KeyCorp upped their price objective on shares of QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Finally, Robert W. Baird lifted their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.67.

Institutional Trading of QUALCOMM

A number of large investors have recently bought and sold shares of the stock. Campbell & CO Investment Adviser LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth about $873,000. Jones Financial Companies Lllp boosted its position in QUALCOMM by 171.8% in the fourth quarter. Jones Financial Companies Lllp now owns 2,340 shares of the wireless technology company’s stock valued at $338,000 after buying an additional 1,479 shares in the last quarter. Belpointe Asset Management LLC grew its stake in QUALCOMM by 2.7% during the fourth quarter. Belpointe Asset Management LLC now owns 12,312 shares of the wireless technology company’s stock worth $1,781,000 after buying an additional 327 shares during the last quarter. Tairen Capital Ltd acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $48,299,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of QUALCOMM by 183.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 212,112 shares of the wireless technology company’s stock worth $30,678,000 after buying an additional 137,256 shares in 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.