Investors Purchase High Volume of Call Options on QUALCOMM (NASDAQ:QCOM)
QUALCOMM Incorporated (NASDAQ:QCOM) was the recipient of some unusual options trading activity on Monday. Investors acquired 29,356 call options on the company. This is an increase of 153% compared to the typical daily volume of 11,609 call options.
In other QUALCOMM news, EVP Michelle M. Sterling sold 5,509 shares of QUALCOMM stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $59.11, for a total transaction of $325,636.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Derek K. Aberle sold 22,251 shares of QUALCOMM stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $57.59, for a total transaction of $1,281,435.09. Following the transaction, the president now directly owns 28,959 shares in the company, valued at $1,667,748.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,101 shares of company stock worth $2,955,612. 0.24% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Shoker Investment Counsel Inc. boosted its stake in QUALCOMM by 1.0% in the second quarter. Shoker Investment Counsel Inc. now owns 15,914 shares of the wireless technology company’s stock valued at $878,000 after buying an additional 157 shares during the last quarter. WMS Partners LLC boosted its stake in QUALCOMM by 2.8% in the second quarter. WMS Partners LLC now owns 12,045 shares of the wireless technology company’s stock valued at $665,000 after buying an additional 329 shares during the last quarter. Manchester Capital Management LLC boosted its stake in QUALCOMM by 2.2% in the second quarter. Manchester Capital Management LLC now owns 28,033 shares of the wireless technology company’s stock valued at $1,548,000 after buying an additional 611 shares during the last quarter. Ffcm LLC boosted its stake in QUALCOMM by 8.4% in the second quarter. Ffcm LLC now owns 70,149 shares of the wireless technology company’s stock valued at $3,873,000 after buying an additional 5,442 shares during the last quarter. Finally, Atlantic Trust Group LLC boosted its stake in QUALCOMM by 29.5% in the second quarter. Atlantic Trust Group LLC now owns 2,254,734 shares of the wireless technology company’s stock valued at $124,506,000 after buying an additional 513,990 shares during the last quarter. Hedge funds and other institutional investors own 76.61% of the company’s stock.
QUALCOMM (QCOM) opened at 52.77 on Thursday. The company has a market cap of $77.89 billion, a price-to-earnings ratio of 20.21 and a beta of 1.29. The stock’s 50 day moving average is $55.08 and its 200 day moving average is $55.95. QUALCOMM has a 52-week low of $51.05 and a 52-week high of $71.62.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter in the previous year, the business posted $1.16 EPS. QUALCOMM’s revenue for the quarter was down 11.1% on a year-over-year basis. On average, analysts predict that QUALCOMM will post $4.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s payout ratio is 87.36%.
A number of research analysts have weighed in on QCOM shares. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. ValuEngine cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub cut shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Northland Securities cut shares of QUALCOMM from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $75.00 to $62.50 in a research report on Wednesday, June 28th. Finally, Vetr raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 price target on the stock in a research report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $63.96.
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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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