QUALCOMM Incorporated (NASDAQ:QCOM) CFO Sells $509,400.00 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. The trade was a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

QUALCOMM Stock Performance

QUALCOMM stock traded up $0.08 during trading hours on Friday, hitting $172.23. The stock had a trading volume of 4,685,871 shares, compared to its average volume of 7,928,451. The company has a market cap of $190.49 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average of $163.13 and a two-hundred day moving average of $165.50. QUALCOMM Incorporated has a fifty-two week low of $148.90 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

Hedge Funds Weigh In On QUALCOMM

Several institutional investors and hedge funds have recently made changes to their positions in QCOM. Nordea Investment Management AB lifted its stake in QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock worth $284,708,000 after purchasing an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock worth $4,239,000 after acquiring an additional 4,955 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at about $2,058,000. Burney Co. grew its stake in shares of QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after buying an additional 127,722 shares during the period. Finally, Howard Bailey Securities LLC bought a new position in QUALCOMM in the 4th quarter valued at about $240,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of several analyst reports. Mizuho dropped their price target on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Susquehanna lowered their price target on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a research report on Wednesday, November 20th. Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 price objective for the company. Evercore ISI reduced their price target on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.32.

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.