QUALCOMM (NASDAQ:QCOM) Shares Down 5.2% on Insider Selling

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s stock price fell 5.2% on Thursday following insider selling activity. The stock traded as low as $135.62 and last traded at $136.09. 2,216,977 shares were traded during mid-day trading, a decline of 75% from the average session volume of 8,799,858 shares. The stock had previously closed at $143.59.

Specifically, CFO Akash J. Palkhiwala sold 648 shares of QUALCOMM stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $141.11, for a total transaction of $91,439.28. Following the transaction, the chief financial officer now owns 56,445 shares in the company, valued at approximately $7,964,953.95. The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the transaction, the chief financial officer now directly owns 57,728 shares in the company, valued at $7,568,140.80. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CFO Akash J. Palkhiwala sold 1,781 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the sale, the chief financial officer now directly owns 57,997 shares in the company, valued at $7,661,403.70. This represents a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Citigroup dropped their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday. Evercore ISI dropped their target price on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Benchmark restated a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Mizuho decreased their target price on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $201.21.

QUALCOMM Trading Down 0.8 %

The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company has a market capitalization of $152.74 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The firm has a fifty day moving average price of $156.49 and a 200-day moving average price of $161.38.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its 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 net margin of 25.94% and a return on equity of 39.51%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Institutional Trading of QUALCOMM

Several hedge funds have recently added to or reduced their stakes in the stock. Eagle Strategies LLC increased its stake in shares of QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after purchasing an additional 59 shares during the last quarter. Clark Capital Management Group Inc. increased its position in QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after buying an additional 59 shares during the last quarter. TBH Global Asset Management LLC grew its stake in shares of QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock worth $1,083,000 after acquiring an additional 63 shares during the period. PDS Planning Inc increased its stake in shares of QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after purchasing an additional 64 shares in the last quarter. Finally, Toth Financial Advisory Corp lifted its stake in shares of QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock valued at $336,000 after buying an additional 65 shares in the last quarter. 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.