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

QUALCOMM Incorporated (NASDAQ:QCOM) CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the transaction, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

QUALCOMM Trading Down 1.0 %

Shares of QUALCOMM stock opened at $170.29 on Thursday. The firm’s 50 day simple moving average is $162.50 and its two-hundred day simple moving average is $165.47. QUALCOMM Incorporated has a 12-month low of $148.41 and a 12-month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $188.34 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Analysts predict that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Institutional Trading of QUALCOMM

Several large investors have recently added to or reduced their stakes in the stock. Paulson Wealth Management Inc. boosted its stake in QUALCOMM by 2.2% during the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock worth $475,000 after buying an additional 61 shares during the period. TBH Global Asset Management LLC increased its position in shares of QUALCOMM by 0.9% in the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after purchasing an additional 63 shares during the last quarter. Blossom Wealth Management lifted its holdings in QUALCOMM by 2.6% during the 3rd quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after buying an additional 64 shares during the last quarter. PDS Planning Inc lifted its stake in QUALCOMM by 1.6% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after purchasing an additional 64 shares during the last quarter. Finally, Delta Financial Advisors LLC grew its position in shares of QUALCOMM by 2.1% in the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after buying an additional 65 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on QCOM. UBS Group upped their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Mizuho cut their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Barclays decreased their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Citigroup cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Finally, Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

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.