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 company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

QUALCOMM Stock Down 2.4 %

QCOM stock opened at $169.76 on Friday. The company has a market capitalization of $189.45 billion, a P/E ratio of 24.60, a PEG ratio of 2.38 and a beta of 1.41. The firm has a 50 day simple moving average of $159.89 and a 200-day simple moving average of $138.15. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, equities research analysts predict that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on QCOM. Canaccord Genuity Group increased their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a report on Thursday, February 1st. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Barclays lifted their price objective on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $148.71.

Institutional Trading of QUALCOMM

Several hedge funds and other institutional investors have recently bought and sold shares of the company. DHJJ Financial Advisors Ltd. acquired a new position in shares of QUALCOMM in the 3rd quarter worth approximately $26,000. Financial Gravity Asset Management Inc. lifted its stake in QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the last quarter. Milestone Investment Advisors LLC acquired a new position in QUALCOMM in the first quarter worth $26,000. Pacifica Partners Inc. increased its stake in QUALCOMM by 150.0% during the third quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company’s stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. Finally, O Dell Group LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $28,000. 74.35% of the stock is 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.