QUALCOMM Incorporated (NASDAQ:QCOM) CFO Sells $91,439.28 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) CFO Akash J. Palkhiwala sold 648 shares of the firm's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $141.11, for a total value of $91,439.28. Following the completion of the transaction, the chief financial officer now directly owns 56,445 shares in the company, valued at $7,964,953.95. This trade represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

QUALCOMM Price Performance

QCOM traded down $0.06 during trading on Monday, reaching $139.19. The stock had a trading volume of 6,927,053 shares, compared to its average volume of 8,873,375. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The firm has a market capitalization of $153.94 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The stock has a 50 day moving average of $156.49 and a two-hundred day moving average of $161.38. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

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Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of analyst reports. Citigroup decreased their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday. Evercore ISI lowered their price objective on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. Benchmark restated a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $201.21.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of QUALCOMM during the fourth quarter valued at $2,721,882,000. Amundi lifted its stake in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of QUALCOMM in the fourth quarter worth about $527,053,000. GAMMA Investing LLC increased its position in shares of QUALCOMM by 20,700.4% in the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after acquiring an additional 3,247,068 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. Institutional investors and hedge funds 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.