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

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

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $1.70 on Wednesday, reaching $170.29. 5,502,046 shares of the company traded hands, compared to its average volume of 7,879,667. The company has a 50 day moving average of $162.50 and a 200 day moving average of $165.47. The firm has a market capitalization of $188.34 billion, a PE ratio of 18.19, a PEG ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 52 week low of $148.41 and a 52 week high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.79.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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%. Equities analysts forecast that QUALCOMM Incorporated will post 9.19 earnings per share for the current year.

QUALCOMM Announces Dividend

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

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent analyst reports. Morgan Stanley decreased their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Citigroup cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Loop Capital assumed coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price target on the stock. Barclays dropped their price target 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. Finally, Evercore ISI lowered their price objective 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. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Nordea Investment Management AB grew its position in QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after buying an additional 523,244 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after acquiring an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in QUALCOMM during the fourth quarter valued at $2,058,000. Burney Co. raised its stake in shares of QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after acquiring an additional 127,722 shares during the period. Finally, Icon Wealth Advisors LLC increased its stake in QUALCOMM by 123.2% in the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after buying an additional 18,315 shares during the period. 74.35% of the stock is owned by hedge funds and other 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.