Qualcomm Inc. (QCOM) EVP Matthew S. Grob Sells 2,000 Shares
Qualcomm Inc. (NASDAQ:QCOM) EVP Matthew S. Grob sold 2,000 shares of Qualcomm stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $68.18, for a total value of $136,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Qualcomm Inc. (NASDAQ:QCOM) opened at 66.68 on Wednesday. Qualcomm Inc. has a 1-year low of $42.24 and a 1-year high of $70.40. The stock has a market cap of $98.26 billion, a P/E ratio of 19.53 and a beta of 1.25. The company has a 50-day moving average price of $63.25 and a 200 day moving average price of $56.58.
Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.19. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The business earned $5.60 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period last year, the business posted $0.99 earnings per share. Qualcomm’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities analysts expect that Qualcomm Inc. will post $4.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 31st were issued a $0.53 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $2.12 annualized dividend and a yield of 3.18%. Qualcomm’s dividend payout ratio (DPR) is presently 62.17%.
A number of hedge funds have recently modified their holdings of QCOM. Pinkerton Retirement Specialists LLC raised its stake in shares of Qualcomm by 3,479.3% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,076 shares of the wireless technology company’s stock valued at $111,000 after buying an additional 2,018 shares during the period. Krilogy Financial LLC raised its stake in shares of Qualcomm by 61.8% in the second quarter. Krilogy Financial LLC now owns 2,071 shares of the wireless technology company’s stock valued at $111,000 after buying an additional 791 shares during the period. CapWealth Advisors LLC raised its stake in shares of Qualcomm by 37.8% in the first quarter. CapWealth Advisors LLC now owns 2,188 shares of the wireless technology company’s stock valued at $112,000 after buying an additional 600 shares during the period. Joel Isaacson & Co. LLC raised its stake in shares of Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock valued at $119,000 after buying an additional 103 shares during the period. Finally, Americafirst Capital Management LLC bought a new stake in shares of Qualcomm during the second quarter valued at approximately $121,000. Institutional investors and hedge funds own 78.05% of the company’s stock.
Several research firms have recently weighed in on QCOM. BMO Capital Markets lowered Qualcomm from a “market perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a research report on Thursday, July 14th. Mizuho boosted their target price on Qualcomm from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, September 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Qualcomm in a research report on Tuesday, September 20th. Pacific Crest boosted their target price on Qualcomm from $59.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, July 21st. Finally, Evercore ISI lowered Qualcomm from a “buy” rating to a “hold” rating and decreased their target price for the company from $60.00 to $55.00 in a research report on Friday, July 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $63.98.
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.