Qualcomm Inc. (QCOM) Director Stiles Barbara Alexander Sells 22,000 Shares
Qualcomm Inc. (NASDAQ:QCOM) Director Stiles Barbara Alexander sold 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $68.52, for a total transaction of $1,507,440.00. Following the transaction, the director now owns 2,440 shares in the company, valued at $167,188.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Qualcomm Inc. (NASDAQ:QCOM) traded up 0.32% on Thursday, hitting $68.10. 887,976 shares of the company were exchanged. Qualcomm Inc. has a 52 week low of $42.24 and a 52 week high of $71.62. The stock has a 50 day moving average of $66.65 and a 200 day moving average of $59.50. The company has a market capitalization of $100.58 billion, a price-to-earnings ratio of 17.87 and a beta of 1.36.
Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 2nd. The wireless technology company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. Qualcomm had a net margin of 24.22% and a return on equity of 19.31%. The business had revenue of $9.17 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same period last year, the business earned $0.91 earnings per share. The business’s quarterly revenue was up 68.2% on a year-over-year basis. Analysts predict that Qualcomm Inc. will post $4.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 30th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Monday, November 28th. Qualcomm’s dividend payout ratio is 55.64%.
Several hedge funds and other institutional investors have recently modified their holdings of QCOM. Wellington Management Group LLP boosted its position in shares of Qualcomm by 22.0% in the first quarter. Wellington Management Group LLP now owns 4,317,467 shares of the wireless technology company’s stock valued at $220,795,000 after buying an additional 779,254 shares in the last quarter. Hancock Holding Co. purchased a new position in shares of Qualcomm during the first quarter valued at about $2,602,000. Renaissance Technologies LLC purchased a new position in shares of Qualcomm during the first quarter valued at about $14,619,000. Nuveen Asset Management LLC boosted its position in shares of Qualcomm by 31.2% in the first quarter. Nuveen Asset Management LLC now owns 973,032 shares of the wireless technology company’s stock valued at $49,761,000 after buying an additional 231,492 shares in the last quarter. Finally, Sather Financial Group Inc boosted its position in shares of Qualcomm by 14.7% in the first quarter. Sather Financial Group Inc now owns 101,542 shares of the wireless technology company’s stock valued at $5,193,000 after buying an additional 13,019 shares in the last quarter. Hedge funds and other institutional investors own 78.04% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. BMO Capital Markets lowered shares of Qualcomm from a “market perform” rating to an “underperform” rating and set a $50.00 target price on the stock. in a research report on Thursday, July 14th. Mizuho upped their target price on shares of Qualcomm from $56.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 6th. Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Qualcomm in a research report on Tuesday, September 20th. Pacific Crest reiterated a “buy” rating and set a $83.00 target price on shares of Qualcomm in a research report on Thursday, November 3rd. Finally, RBC Capital Markets reiterated a “sector perform” rating and set a $70.00 target price on shares of Qualcomm in a research report on Friday, October 28th. Seventeen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $66.14.
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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