QUALCOMM Incorporated (NASDAQ:QCOM) CTO James H. Thompson Sells 8,000 Shares

QUALCOMM Incorporated (NASDAQ:QCOM) CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the sale, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

QUALCOMM Trading Up 1.8 %

Shares of QUALCOMM stock opened at $203.81 on Thursday. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a market capitalization of $227.45 billion, a P/E ratio of 27.39, a P/E/G ratio of 2.42 and a beta of 1.27. The business has a 50 day moving average price of $197.39 and a 200 day moving average price of $170.48. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. Sell-side analysts anticipate that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were paid a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s payout ratio is currently 45.70%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on QCOM shares. Mizuho increased their target price on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 31st. Morgan Stanley lifted their target price on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Barclays raised their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Wolfe Research boosted their target price on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Finally, Piper Sandler upped their price objective on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $192.13.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Gravity Asset Management Inc. grew its stake in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. WFA Asset Management Corp acquired a new position in QUALCOMM in the first quarter worth $27,000. CarsonAllaria Wealth Management Ltd. boosted its stake in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the period. DiNuzzo Private Wealth Inc. bought a new position in QUALCOMM during the 4th quarter worth $32,000. Finally, Cherry Tree Wealth Management LLC grew its position in shares of QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 115 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

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.