QUALCOMM Incorporated (QCOM) EVP Matthew S. Grob Sells 20,000 Shares of Stock
QUALCOMM Incorporated (NASDAQ:QCOM) EVP Matthew S. Grob sold 20,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of QUALCOMM Incorporated (QCOM) opened at $64.10 on Wednesday. QUALCOMM Incorporated has a twelve month low of $48.92 and a twelve month high of $70.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81. The firm has a market capitalization of $92,164.80, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 2.18 and a beta of 1.26.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the previous year, the firm posted $1.28 EPS. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. equities research analysts forecast that QUALCOMM Incorporated will post 3.07 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 annualized dividend and a dividend yield of 3.56%. QUALCOMM’s dividend payout ratio is presently 138.18%.
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Several research firms have weighed in on QCOM. Royal Bank Of Canada upgraded QUALCOMM from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $70.00 in a research note on Wednesday. UBS AG upgraded QUALCOMM from a “market perform” rating to an “outperform” rating in a research note on Wednesday. BMO Capital Markets boosted their price target on QUALCOMM from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, November 2nd. Sanford C. Bernstein boosted their price target on QUALCOMM from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Thursday, November 2nd. Finally, Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $64.21.
Several hedge funds and other institutional investors have recently made changes to their positions in QCOM. United Asset Strategies Inc. purchased a new stake in QUALCOMM during the 2nd quarter worth $5,249,000. Stifel Financial Corp raised its stake in shares of QUALCOMM by 47.4% in the 1st quarter. Stifel Financial Corp now owns 2,932,964 shares of the wireless technology company’s stock valued at $168,002,000 after purchasing an additional 943,026 shares in the last quarter. Private Asset Management Inc. raised its stake in shares of QUALCOMM by 0.5% in the 2nd quarter. Private Asset Management Inc. now owns 736,973 shares of the wireless technology company’s stock valued at $40,696,000 after purchasing an additional 4,028 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of QUALCOMM by 18.1% in the 1st quarter. Pacer Advisors Inc. now owns 67,369 shares of the wireless technology company’s stock valued at $3,863,000 after purchasing an additional 10,336 shares in the last quarter. Finally, First Foundation Advisors raised its stake in shares of QUALCOMM by 0.6% in the 1st quarter. First Foundation Advisors now owns 269,214 shares of the wireless technology company’s stock valued at $15,437,000 after purchasing an additional 1,503 shares in the last quarter. 76.85% of the stock is owned by institutional investors.
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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