Akash J. Palkhiwala Sells 269 Shares of QUALCOMM Incorporated (NASDAQ:QCOM) Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares in the company, valued at $7,568,140.80. This represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $5.06 on Tuesday, hitting $124.66. The stock had a trading volume of 14,940,125 shares, compared to its average volume of 8,760,060. The stock has a market cap of $137.87 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The business’s 50 day moving average is $159.04 and its two-hundred day moving average is $162.17.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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 net margin of 25.94% and a return on equity of 39.51%. Analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on QCOM. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Melius assumed coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Barclays lowered their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Benchmark reiterated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

Institutional Trading of QUALCOMM

Institutional investors have recently bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new stake in QUALCOMM during the third quarter worth approximately $39,000. MML Investors Services LLC lifted its position in shares of QUALCOMM by 8.3% during the 3rd quarter. MML Investors Services LLC now owns 276,610 shares of the wireless technology company’s stock valued at $47,038,000 after acquiring an additional 21,216 shares during the period. Groupama Asset Managment grew its holdings in shares of QUALCOMM by 31.8% during the 3rd quarter. Groupama Asset Managment now owns 32,995 shares of the wireless technology company’s stock worth $5,611,000 after purchasing an additional 7,969 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in QUALCOMM by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 526,616 shares of the wireless technology company’s stock valued at $89,551,000 after purchasing an additional 3,171 shares in the last quarter. Finally, Drucker Wealth 3.0 LLC lifted its position in QUALCOMM by 3.1% during the third quarter. Drucker Wealth 3.0 LLC now owns 7,410 shares of the wireless technology company’s stock worth $1,260,000 after purchasing an additional 224 shares during the period. Institutional investors own 74.35% of the company’s stock.

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.