QUALCOMM Incorporated (NASDAQ:QCOM) CTO Sells $1,358,400.00 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

QUALCOMM Trading Down 0.0 %

NASDAQ QCOM opened at $168.90 on Friday. The stock has a market cap of $188.49 billion, a PE ratio of 22.70, a PEG ratio of 1.86 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The company’s 50-day moving average price is $168.00 and its 200-day moving average price is $181.97. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

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

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th were paid 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 2.01%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Institutional Trading of QUALCOMM

Hedge funds have recently added to or reduced their stakes in the business. Campbell & CO Investment Adviser LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $873,000. Jones Financial Companies Lllp lifted its holdings in QUALCOMM by 171.8% during the fourth quarter. Jones Financial Companies Lllp now owns 2,340 shares of the wireless technology company’s stock worth $338,000 after buying an additional 1,479 shares during the period. Belpointe Asset Management LLC boosted its position in QUALCOMM by 2.7% during the 4th quarter. Belpointe Asset Management LLC now owns 12,312 shares of the wireless technology company’s stock valued at $1,781,000 after acquiring an additional 327 shares in the last quarter. Tairen Capital Ltd purchased a new position in shares of QUALCOMM in the 4th quarter valued at $48,299,000. Finally, Tower Research Capital LLC TRC raised its position in shares of QUALCOMM by 183.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 212,112 shares of the wireless technology company’s stock worth $30,678,000 after acquiring an additional 137,256 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on QCOM. Barclays boosted their price target on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Tigress Financial lifted their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 21st. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, September 17th. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $211.67.

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.