Insider Selling: QUALCOMM Incorporated (NASDAQ:QCOM) Insider Sells 1,600 Shares of Stock

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

QUALCOMM Stock Down 0.2 %

Shares of NASDAQ:QCOM traded down $0.30 during trading on Wednesday, reaching $152.80. The stock had a trading volume of 7,108,297 shares, compared to its average volume of 8,305,466. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $169.00 billion, a P/E ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28. The firm's 50-day simple moving average is $164.74 and its 200 day simple moving average is $164.70. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. As a group, research analysts expect that QUALCOMM Incorporated will post 9.39 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 paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of research reports. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Piper Sandler decreased their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Barclays dropped their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Susquehanna decreased their target price on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a research report on Wednesday, November 20th. Finally, Benchmark reiterated a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, QUALCOMM currently has an average rating of "Moderate Buy" and a consensus target price of $205.32.

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Institutional Investors Weigh In On QUALCOMM

A number of large investors have recently modified their holdings of QCOM. Norges Bank acquired a new stake in QUALCOMM in the 4th quarter worth approximately $2,721,882,000. Amundi raised its holdings in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter worth $527,053,000. Pacer Advisors Inc. grew its holdings in shares of QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company's stock valued at $542,688,000 after buying an additional 3,014,302 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock valued at $4,600,625,000 after acquiring an additional 1,989,725 shares during the period. Hedge funds and other institutional investors 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.

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