Stock Traders Buy Large Volume of Put Options on QUALCOMM (QCOM)
QUALCOMM Incorporated (NASDAQ:QCOM) was the recipient of unusually large options trading activity on Friday. Investors purchased 22,163 put options on the company. This is an increase of 261% compared to the average volume of 6,142 put options.
In related news, President Derek K. Aberle sold 23,104 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $55.38, for a total value of $1,279,499.52. Following the sale, the president now directly owns 5,855 shares of the company’s stock, valued at $324,249.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,246 shares of company stock worth $2,868,825. Insiders own 0.24% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in QUALCOMM by 1.5% in the second quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock valued at $5,714,418,000 after buying an additional 1,537,645 shares in the last quarter. FMR LLC boosted its position in QUALCOMM by 16.5% in the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after buying an additional 11,387,347 shares in the last quarter. Northern Trust Corp boosted its position in QUALCOMM by 2.6% in the second quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock valued at $1,077,848,000 after buying an additional 499,531 shares in the last quarter. Capital International Investors boosted its position in QUALCOMM by 59.9% in the second quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock valued at $835,633,000 after buying an additional 5,671,176 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in QUALCOMM by 3.6% in the first quarter. Fisher Asset Management LLC now owns 10,041,310 shares of the wireless technology company’s stock valued at $575,769,000 after buying an additional 352,962 shares in the last quarter. 77.07% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on QCOM shares. UBS AG reaffirmed a “neutral” rating and issued a $58.00 target price on shares of QUALCOMM in a research note on Tuesday, May 2nd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $54.00 target price on shares of QUALCOMM in a research note on Tuesday, May 2nd. J P Morgan Chase & Co lowered their target price on shares of QUALCOMM from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 2nd. Vetr downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 target price on the stock. in a research note on Tuesday, May 2nd. Finally, Canaccord Genuity lowered their target price on shares of QUALCOMM from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. QUALCOMM has a consensus rating of “Hold” and a consensus target price of $63.96.
QUALCOMM (NASDAQ:QCOM) opened at 51.81 on Wednesday. The firm’s 50-day moving average price is $53.67 and its 200 day moving average price is $55.51. QUALCOMM has a 12 month low of $51.05 and a 12 month high of $71.62. The stock has a market cap of $76.47 billion, a price-to-earnings ratio of 19.84 and a beta of 1.29.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 EPS. On average, analysts anticipate that QUALCOMM will post $4.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be given a dividend of $0.57 per share. The ex-dividend date is Monday, August 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.40%. QUALCOMM’s dividend payout ratio is currently 87.36%.
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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