Investors Sell Shares of QUALCOMM (QCOM) on Strength (QCOM)
Traders sold shares of QUALCOMM, Inc. (NASDAQ:QCOM) on strength during trading on Wednesday. $66.78 million flowed into the stock on the tick-up and $115.41 million flowed out of the stock on the tick-down, for a money net flow of $48.63 million out of the stock. Of all stocks tracked, QUALCOMM had the 18th highest net out-flow for the day. QUALCOMM traded up $0.10 for the day and closed at $64.60
QCOM has been the topic of a number of research analyst reports. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 price target on the stock in a report on Monday, November 13th. Stifel Nicolaus reaffirmed a “buy” rating on shares of QUALCOMM in a research report on Thursday, October 12th. Canaccord Genuity upped their target price on QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. Citigroup upped their target price on QUALCOMM from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Finally, Standpoint Research lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $66.02.
The stock has a market capitalization of $96,380.91, a PE ratio of 17.30, a P/E/G ratio of 1.85 and a beta of 1.39. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 29th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date was Tuesday, November 28th. QUALCOMM’s payout ratio is currently 138.18%.
In related news, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total value of $521,830.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alexander H. Rogers sold 874 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the sale, the executive vice president now directly owns 12,035 shares of the company’s stock, valued at $824,638.20. The disclosure for this sale can be found here. Insiders sold a total of 29,427 shares of company stock valued at $1,827,995 over the last three months. 0.24% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of QUALCOMM by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock valued at $5,714,418,000 after purchasing an additional 1,537,645 shares during the last quarter. FMR LLC grew its stake in shares of QUALCOMM by 16.5% during the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after acquiring an additional 11,387,347 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of QUALCOMM by 2.0% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 25,674,098 shares of the wireless technology company’s stock worth $1,330,946,000 after acquiring an additional 498,324 shares during the period. Capital International Investors grew its stake in shares of QUALCOMM by 41.8% during the 3rd quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock worth $1,112,250,000 after acquiring an additional 6,322,645 shares during the period. Finally, Northern Trust Corp grew its stake in shares of QUALCOMM by 2.6% during the 2nd quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock worth $1,077,848,000 after acquiring an additional 499,531 shares during the period. 76.53% of the stock is owned by hedge funds and other institutional investors.
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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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