Insider Selling: QUALCOMM Incorporated (NASDAQ:QCOM) CTO Sells 8,000 Shares of Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the transaction, the chief technology officer now directly owns 253,893 shares of the company’s stock, valued at $46,208,526. The sale was disclosed in a legal filing with the SEC, which is available through this link.

QUALCOMM Stock Performance

QCOM traded down $0.46 during trading on Friday, hitting $179.64. 10,041,403 shares of the company traded hands, compared to its average volume of 8,755,839. The firm has a market cap of $200.48 billion, a P/E ratio of 26.03, a price-to-earnings-growth ratio of 2.25 and a beta of 1.33. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $183.19. The stock’s fifty day moving average is $167.20 and its 200 day moving average is $146.11.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 23.03% and a return on equity of 38.24%. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. As a group, equities analysts predict that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio is presently 49.28%.

Hedge Funds Weigh In On QUALCOMM

Several large investors have recently modified their holdings of QCOM. Peoples Bank OH bought a new stake in QUALCOMM during the 4th quarter worth approximately $219,000. HF Advisory Group LLC purchased a new position in QUALCOMM during the third quarter worth about $629,000. Bank Hapoalim BM increased its stake in QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after acquiring an additional 9,192 shares during the last quarter. NewEdge Wealth LLC raised its holdings in shares of QUALCOMM by 120.2% in the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after acquiring an additional 11,285 shares in the last quarter. Finally, 1834 Investment Advisors Co. boosted its position in shares of QUALCOMM by 6.6% during the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock valued at $6,591,000 after acquiring an additional 2,818 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on QCOM. Susquehanna upped their price objective on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Morgan Stanley raised their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday. Rosenblatt Securities upped their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Barclays boosted their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, HSBC boosted their price objective on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $179.36.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.