QUALCOMM (NASDAQ:QCOM) Trading Down 1.2% Following Insider Selling

QUALCOMM Incorporated (NASDAQ:QCOM) dropped 1.2% during trading on Tuesday following insider selling activity. The stock traded as low as $151.35 and last traded at $151.70. Approximately 2,166,903 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 8,353,350 shares. The stock had previously closed at $153.62.

Specifically, CFO Akash J. Palkhiwala sold 3,337 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the transaction, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

QCOM has been the subject of several research reports. Barclays lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Tuesday. UBS Group boosted their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Finally, Melius started coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Trading Down 0.9 %

The company’s 50 day simple moving average is $164.84 and its two-hundred day simple moving average is $165.47. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $168.36 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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 anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is currently 36.32%.

Institutional Trading of QUALCOMM

A number of institutional investors have recently bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM during the fourth quarter valued at approximately $26,000. CKW Financial Group acquired a new position in QUALCOMM in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM in the 4th quarter worth approximately $29,000. Finally, Sunbeam Capital Management LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $29,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.