Insider Selling: QUALCOMM Incorporated (NASDAQ:QCOM) Insider Sells 10,373 Shares of Stock

QUALCOMM Incorporated (NASDAQ:QCOM) insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

QUALCOMM Price Performance

Shares of QCOM stock traded up $3.37 during midday trading on Wednesday, reaching $159.83. 7,079,337 shares of the company were exchanged, compared to its average volume of 8,973,366. The company’s 50 day moving average price is $165.56 and its two-hundred day moving average price is $178.65. The company has a market cap of $177.57 billion, a P/E ratio of 17.69, a PEG ratio of 2.67 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $134.94 and a 12 month high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is currently 37.82%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on QCOM. Sanford C. Bernstein increased their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Melius started coverage on shares of QUALCOMM in a research report on Monday. They set a “hold” rating and a $180.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, Loop Capital started coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 target price for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $208.00.

Hedge Funds Weigh In On QUALCOMM

Several hedge funds have recently modified their holdings of QCOM. HWG Holdings LP bought a new stake in shares of QUALCOMM during the 2nd quarter worth $30,000. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM during the third quarter valued at $26,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM in the second quarter worth about $32,000. Planning Capital Management Corp raised its holdings in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the period. Finally, McClarren Financial Advisors Inc. raised its holdings in shares of QUALCOMM by 43.2% during the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after acquiring an additional 60 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

About QUALCOMM

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.