QUALCOMM Incorporated (NASDAQ:QCOM) CFO Sells 1,781 Shares

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) CFO Akash J. Palkhiwala sold 1,781 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the sale, the chief financial officer now directly owns 57,997 shares of the company's stock, valued at $7,661,403.70. The trade was a 2.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

QUALCOMM Price Performance

NASDAQ:QCOM traded up $4.85 during mid-day trading on Friday, hitting $139.25. 10,947,680 shares of the company's stock traded hands, compared to its average volume of 8,878,501. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market cap of $154.01 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The firm's 50 day simple moving average is $156.49 and its 200 day simple moving average is $161.46. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year 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 earnings per share for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

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Institutional Trading of QUALCOMM

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new position in shares of QUALCOMM during the third quarter valued at approximately $39,000. MML Investors Services LLC lifted its stake in shares of QUALCOMM by 8.3% during the 3rd quarter. MML Investors Services LLC now owns 276,610 shares of the wireless technology company's stock worth $47,038,000 after purchasing an additional 21,216 shares during the period. Groupama Asset Managment boosted its holdings in shares of QUALCOMM by 31.8% during the third quarter. Groupama Asset Managment now owns 32,995 shares of the wireless technology company's stock worth $5,611,000 after purchasing an additional 7,969 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of QUALCOMM by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 526,616 shares of the wireless technology company's stock valued at $89,551,000 after purchasing an additional 3,171 shares during the period. Finally, Drucker Wealth 3.0 LLC increased its stake in QUALCOMM by 3.1% in the third quarter. Drucker Wealth 3.0 LLC now owns 7,410 shares of the wireless technology company's stock valued at $1,260,000 after purchasing an additional 224 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Citigroup lowered their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Finally, TD Cowen dropped their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $201.21.

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.