Insider Selling: QUALCOMM Incorporated (NASDAQ:QCOM) General Counsel Sells 1,901 Shares of Stock

QUALCOMM Incorporated (NASDAQ:QCOM) General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

QUALCOMM Trading Up 4.3 %

Shares of NASDAQ:QCOM opened at $172.99 on Thursday. QUALCOMM Incorporated has a 1 year low of $119.15 and a 1 year high of $230.63. The firm has a fifty day moving average price of $168.55 and a 200 day moving average price of $182.14. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $192.71 billion, a PE ratio of 22.41, a P/E/G ratio of 1.66 and a beta of 1.28.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 1.97%. QUALCOMM’s dividend payout ratio (DPR) is currently 44.04%.

Hedge Funds Weigh In On QUALCOMM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM during the 3rd quarter worth $26,000. HWG Holdings LP bought a new stake in QUALCOMM during the second quarter valued at about $30,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM in the second quarter valued at about $32,000. Planning Capital Management Corp increased its stake in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the period. Finally, Aspect Partners LLC lifted its position in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on QCOM. Citigroup cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Cantor Fitzgerald cut their target price on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Robert W. Baird lifted their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Piper Sandler reiterated an “overweight” rating and set a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $207.29.

About QUALCOMM

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.