Insider Selling: QUALCOMM Incorporated (NASDAQ:QCOM) General Counsel Sells $1,239,273.03 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM) General Counsel Ann C. Chaplin sold 7,717 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the sale, the general counsel now directly owns 17,153 shares of the company’s stock, valued at approximately $2,754,600.27. The trade was a 31.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

QUALCOMM Trading Up 0.2 %

Shares of NASDAQ:QCOM opened at $158.53 on Friday. QUALCOMM Incorporated has a 1 year low of $134.94 and a 1 year high of $230.63. The firm has a market capitalization of $176.13 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 2.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The business’s 50 day moving average price is $164.97 and its 200-day moving average price is $178.01.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.14%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Wall Street Analyst Weigh In

Several research firms have commented on QCOM. Melius assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Citigroup cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Susquehanna cut their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Finally, KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $208.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the 3rd quarter valued at approximately $26,000. HWG Holdings LP purchased a new position in shares of QUALCOMM during the 2nd quarter valued at approximately $30,000. Financial Connections Group Inc. purchased a new position in shares of QUALCOMM during the 2nd quarter valued at approximately $32,000. Planning Capital Management Corp lifted its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares in the last quarter. Finally, Accordant Advisory Group Inc purchased a new position in QUALCOMM in the 3rd quarter valued at $36,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

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.