Qualcomm Inc. (QCOM) EVP Matthew S. Grob Sells 74,000 Shares
Qualcomm Inc. (NASDAQ:QCOM) EVP Matthew S. Grob sold 74,000 shares of the company’s 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 filing with the SEC, which is accessible through this hyperlink.
Qualcomm Inc. (NASDAQ:QCOM) opened at 68.50 on Friday. Qualcomm Inc. has a 12 month low of $42.24 and a 12 month high of $70.40. The stock has a market capitalization of $100.94 billion, a price-to-earnings ratio of 20.06 and a beta of 1.22. The company has a 50-day moving average of $62.97 and a 200 day moving average of $56.28.
Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.19. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that Qualcomm Inc. will post $4.30 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 31st were given 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 of this dividend was Monday, August 29th. Qualcomm’s payout ratio is currently 62.17%.
A number of research analysts have recently commented on QCOM shares. KeyCorp reiterated a “buy” rating and issued a $59.00 price target on shares of Qualcomm in a research note on Wednesday, July 6th. Morgan Stanley reiterated a “buy” rating on shares of Qualcomm in a research note on Wednesday, June 15th. Vetr upgraded Qualcomm from a “hold” rating to a “buy” rating and set a $58.08 price target for the company in a research note on Monday, June 13th. Zacks Investment Research upgraded Qualcomm from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Monday, July 11th. Finally, Bank of America Corp. reiterated a “buy” rating on shares of Qualcomm in a research note on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. Qualcomm presently has an average rating of “Buy” and a consensus price target of $63.02.
Several hedge funds and other institutional investors have recently modified their holdings of QCOM. Williams Jones & Associates LLC increased its stake in Qualcomm by 2.1% in the second quarter. Williams Jones & Associates LLC now owns 18,110 shares of the wireless technology company’s stock valued at $970,000 after buying an additional 375 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Qualcomm during the second quarter valued at $3,177,000. Kentucky Retirement Systems bought a new stake in Qualcomm during the second quarter valued at $6,692,000. Mason Street Advisors LLC bought a new stake in Qualcomm during the second quarter valued at $10,599,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Qualcomm by 1.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 70,295 shares of the wireless technology company’s stock valued at $3,764,000 after buying an additional 739 shares in the last quarter. 78.05% of the stock is currently owned by hedge funds and other institutional investors.
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.
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