Matthew S. Grob Sells 74,000 Shares of Qualcomm Inc. (QCOM) Stock
Qualcomm Inc. (NASDAQ:QCOM) EVP Matthew S. Grob sold 74,000 shares of the stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $66.63, for a total value of $4,930,620.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Qualcomm Inc. (NASDAQ:QCOM) opened at 68.50 on Friday. Qualcomm Inc. has a 1-year low of $42.24 and a 1-year high of $70.40. The company’s 50 day moving average is $62.97 and its 200-day moving average is $56.28. The stock has a market cap of $100.94 billion, a PE ratio of 20.06 and a beta of 1.22.
Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.19. The firm earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 earnings per share. Equities research analysts forecast that Qualcomm Inc. will post $4.30 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 31st were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Monday, August 29th. Qualcomm’s dividend payout ratio (DPR) is currently 62.17%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fisher Asset Management LLC boosted its position in shares of Qualcomm by 2.0% in the first quarter. Fisher Asset Management LLC now owns 9,556,732 shares of the wireless technology company’s stock worth $487,967,000 after buying an additional 183,750 shares during the period. P.R. Herzig & Co. Inc. purchased a new position in shares of Qualcomm during the first quarter worth about $1,100,000. First Financial Corp IN increased its position in shares of Qualcomm by 2.0% in the first quarter. First Financial Corp IN now owns 18,524 shares of the wireless technology company’s stock worth $947,000 after buying an additional 365 shares in the last quarter. Country Trust Bank increased its position in shares of Qualcomm by 1.6% in the first quarter. Country Trust Bank now owns 607,030 shares of the wireless technology company’s stock worth $31,044,000 after buying an additional 9,644 shares in the last quarter. Finally, Sigma Planning Corp increased its position in shares of Qualcomm by 17.8% in the first quarter. Sigma Planning Corp now owns 10,202 shares of the wireless technology company’s stock worth $522,000 after buying an additional 1,539 shares in the last quarter. Hedge funds and other institutional investors own 78.05% of the company’s stock.
QCOM has been the topic of several recent research reports. Standpoint Research downgraded Qualcomm from a “buy” rating to a “hold” rating in a research report on Monday, July 25th. Bank of America Corp. reaffirmed a “buy” rating on shares of Qualcomm in a report on Monday, July 18th. Vetr raised shares of Qualcomm from a “buy” rating to a “strong-buy” rating and set a $69.01 price target on the stock in a report on Monday, September 12th. Morgan Stanley reaffirmed a “buy” rating on shares of Qualcomm in a report on Wednesday, June 15th. Finally, Cowen and Company upped their price target on shares of Qualcomm from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, July 21st. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $63.02.
Qualcomm Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
Receive News & Stock Ratings for Qualcomm Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qualcomm Inc. and related stocks with our FREE daily email newsletter.