QUALCOMM Incorporated (NASDAQ:QCOM) CFO Sells $523,308.34 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CFO Akash J. Palkhiwala sold 3,337 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

QUALCOMM Trading Up 2.6 %

Shares of NASDAQ QCOM opened at $158.49 on Thursday. The stock has a market capitalization of $175.29 billion, a P/E ratio of 16.93, a PEG ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The business’s 50 day moving average is $164.73 and its two-hundred day moving average is $165.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The company 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 $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Hedge Funds Weigh In On QUALCOMM

A number of large investors have recently made changes to their positions in QCOM. Castle Rock Wealth Management LLC lifted its stake in QUALCOMM by 5.1% in the fourth quarter. Castle Rock Wealth Management LLC now owns 9,330 shares of the wireless technology company’s stock worth $1,433,000 after purchasing an additional 456 shares during the last quarter. Dogwood Wealth Management LLC raised its holdings in shares of QUALCOMM by 7.8% in the fourth quarter. Dogwood Wealth Management LLC now owns 4,135 shares of the wireless technology company’s stock worth $635,000 after buying an additional 299 shares during the period. Siemens Fonds Invest GmbH lifted its stake in shares of QUALCOMM by 52.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 67,367 shares of the wireless technology company’s stock worth $10,349,000 after acquiring an additional 23,219 shares during the last quarter. GHE LLC boosted its holdings in QUALCOMM by 1.3% during the 4th quarter. GHE LLC now owns 22,396 shares of the wireless technology company’s stock valued at $3,440,000 after acquiring an additional 293 shares during the period. Finally, Park Square Financial Group LLC bought a new position in QUALCOMM in the 4th quarter valued at $48,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on QCOM shares. Piper Sandler dropped their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Evercore ISI lowered their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. UBS Group increased their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.