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

QUALCOMM Incorporated (NASDAQ:QCOM) dropped 0.1% during 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 mid-day 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 business’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 value of $366,399.76. Following the completion of the transaction, 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 available through this link. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction 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 owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the sale, the chief executive officer now directly owns 8,100 shares in the company, valued at $1,466,100. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,185 shares of company stock worth $8,552,835. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on QCOM. KeyCorp raised their price objective on shares of QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price objective on shares of QUALCOMM in a research note on Thursday, May 2nd. Morgan Stanley raised their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Wolfe Research boosted their price objective on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Finally, Canaccord Genuity Group increased their target price on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.96.

QUALCOMM Trading Up 0.8 %

The stock’s fifty day moving average price is $202.30 and its 200 day moving average price is $172.96. The stock has a market capitalization of $233.02 billion, a P/E ratio of 28.06, a PEG ratio of 2.53 and a beta of 1.27. 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 issued its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. Research analysts forecast that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.63%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Institutional Trading of QUALCOMM

A number of institutional investors have recently made changes to their positions in QCOM. WFA Asset Management Corp purchased a new position in shares of QUALCOMM in the 1st quarter valued at approximately $27,000. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after buying an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter worth $32,000. Cherry Tree Wealth Management LLC grew its holdings 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 valued at $34,000 after buying an additional 115 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $35,000. 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.