QUALCOMM Incorporated (NASDAQ:QCOM) CFO Sells $484,620.00 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now owns 48,778 shares in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

QUALCOMM Trading Down 0.5 %

Shares of QCOM stock traded down $0.88 on Friday, reaching $159.51. 9,898,300 shares of the company's stock were exchanged, compared to its average volume of 8,971,356. QUALCOMM Incorporated has a 52 week low of $130.39 and a 52 week high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $177.22 billion, a PE ratio of 17.77, a P/E/G ratio of 2.72 and a beta of 1.25. The company's fifty day simple moving average is $166.15 and its 200 day simple moving average is $179.89.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid 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 2.13%. QUALCOMM's payout ratio is 37.82%.

Analysts Set New Price Targets

Several research analysts have weighed in on QCOM shares. Evercore ISI upped their target price on QUALCOMM from $190.00 to $199.00 and gave the stock an "in-line" rating in a research report on Thursday, November 7th. Susquehanna dropped their price target on QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a research report on Wednesday, November 20th. Citigroup reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set a "neutral" rating for the company in a research note on Wednesday, October 16th. Sanford C. Bernstein raised their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, Benchmark reaffirmed a "buy" rating and issued a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $210.15.

Institutional Trading of QUALCOMM

Institutional investors have recently bought and sold shares of the stock. HWG Holdings LP purchased a new position in shares of QUALCOMM during the 2nd quarter valued at approximately $30,000. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM in the third quarter valued at about $26,000. Financial Connections Group Inc. purchased a new stake in shares of QUALCOMM in the second quarter valued at about $32,000. Aspect Partners LLC raised its stake in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company's stock valued at $35,000 after acquiring an additional 74 shares during the period. Finally, Planning Capital Management Corp boosted 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 worth $34,000 after purchasing an additional 114 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.

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