Qualcomm Inc. (QCOM) EVP Sells $135,440.00 in Stock
Qualcomm Inc. (NASDAQ:QCOM) EVP Matthew S. Grob sold 2,000 shares of the stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $67.72, for a total value of $135,440.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Qualcomm Inc. (NASDAQ:QCOM) opened at 66.31 on Friday. The firm’s 50-day moving average price is $66.72 and its 200-day moving average price is $59.55. Qualcomm Inc. has a 1-year low of $42.24 and a 1-year high of $71.62. The firm has a market capitalization of $97.93 billion, a PE ratio of 17.40 and a beta of 1.36.
Qualcomm (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 2nd. The wireless technology company reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.15. Qualcomm had a net margin of 24.22% and a return on equity of 19.31%. The company earned $9.17 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period last year, the company posted $0.91 earnings per share. The firm’s quarterly revenue was up 68.2% compared to the same quarter last year. On average, equities research analysts predict that Qualcomm Inc. will post $4.74 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 30th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, November 28th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.20%. Qualcomm’s dividend payout ratio (DPR) is 55.64%.
Several hedge funds and other institutional investors have recently modified their holdings of QCOM. Citizens Financial Group Inc RI boosted its position in shares of Qualcomm by 0.3% in the third quarter. Citizens Financial Group Inc RI now owns 4,891 shares of the wireless technology company’s stock worth $335,000 after buying an additional 16 shares during the period. Crawford Investment Counsel Inc. acquired a new position in shares of Qualcomm during the third quarter worth $3,002,000. Espalier Global Management LLC acquired a new position in shares of Qualcomm during the third quarter worth $6,850,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Qualcomm by 20.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 686,159 shares of the wireless technology company’s stock worth $47,003,000 after buying an additional 118,485 shares during the period. Finally, Wimmer Associates 1 LLC acquired a new position in shares of Qualcomm during the third quarter worth $212,000. 78.04% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on QCOM shares. Bank of America Corp. reaffirmed a “buy” rating on shares of Qualcomm in a research note on Monday, July 18th. Stifel Nicolaus raised their price objective on Qualcomm from $59.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, July 21st. Canaccord Genuity raised their price objective on Qualcomm from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 21st. Charter Equity raised Qualcomm from a “mkt perform” rating to a “buy” rating in a research note on Thursday, July 21st. Finally, JPMorgan Chase & Co. set a $63.00 price objective on Qualcomm and gave the company a “buy” rating in a research note on Thursday, July 21st. Seventeen 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 stock. The stock currently has an average rating of “Buy” and a consensus price target of $66.14.
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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