Insider Selling: QUALCOMM Incorporated (NASDAQ:QCOM) CAO Sells 744 Shares of Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CAO Neil Martin sold 744 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $165.43 on Friday. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $182.97 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The firm has a 50-day moving average price of $164.46 and a 200 day moving average price of $165.72.

QUALCOMM (NASDAQ:QCOM) last issued 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 return on equity of 39.51% and a net margin of 25.94%. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.06%. QUALCOMM’s dividend payout ratio is 36.32%.

Institutional Trading of QUALCOMM

Several hedge funds have recently modified their holdings of QCOM. Foundations Investment Advisors LLC grew its stake in shares of QUALCOMM by 28.6% during the third quarter. Foundations Investment Advisors LLC now owns 13,582 shares of the wireless technology company’s stock valued at $2,310,000 after purchasing an additional 3,023 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of QUALCOMM by 11.4% during the third quarter. Private Advisor Group LLC now owns 89,715 shares of the wireless technology company’s stock valued at $15,256,000 after purchasing an additional 9,185 shares during the last quarter. Courier Capital LLC grew its stake in shares of QUALCOMM by 14.6% during the third quarter. Courier Capital LLC now owns 2,908 shares of the wireless technology company’s stock valued at $495,000 after purchasing an additional 370 shares during the last quarter. McAdam LLC grew its stake in shares of QUALCOMM by 11.5% during the third quarter. McAdam LLC now owns 1,900 shares of the wireless technology company’s stock valued at $323,000 after purchasing an additional 196 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of QUALCOMM by 17,357.3% during the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after purchasing an additional 2,919,490 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on QCOM shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Sanford C. Bernstein upped their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Piper Sandler cut their target price 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. Finally, Benchmark reissued a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock 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.