QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.1% on Insider Selling

QUALCOMM Incorporated (NASDAQ:QCOMGet Free Report)’s share price dropped 0.1% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $204.86 and last traded at $207.75. Approximately 1,850,769 shares traded hands during trading, a decline of 80% from the average daily volume of 9,189,126 shares. The stock had previously closed at $207.89.

Specifically, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the sale, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Neil Smit sold 3,069 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the sale, the director now owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock worth $8,552,835 over the last quarter. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on QCOM. Tigress Financial lifted their price objective on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Wolfe Research boosted their price target on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Benchmark reissued a “buy” rating and set a $200.00 price objective on shares of QUALCOMM in a research note on Friday, May 3rd. Mizuho raised their target price on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, Morgan Stanley boosted their price objective on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $192.96.

Get Our Latest Stock Analysis on QCOM

QUALCOMM Price Performance

The stock has a market capitalization of $233.02 billion, a PE ratio of 28.06, a PEG ratio of 2.53 and a beta of 1.27. The firm’s fifty day moving average price is $202.30 and its two-hundred day moving average price is $172.96. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOMGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating 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 firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. On average, equities analysts predict that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is 45.70%.

Institutional Trading of QUALCOMM

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in QUALCOMM by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after acquiring an additional 483,390 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after buying an additional 1,909,025 shares during the period. Norges Bank bought a new position in QUALCOMM during the 4th quarter valued at about $2,507,978,000. Matrix Capital Management Company LP purchased a new stake in shares of QUALCOMM in the first quarter worth approximately $1,171,516,000. Finally, Putnam Investments LLC increased its stake in QUALCOMM by 4.3% in the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after purchasing an additional 263,482 shares during the period. 74.35% of the stock is currently owned by institutional investors.

About QUALCOMM

(Get Free Report)

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.

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