Akash J. Palkhiwala Sells 3,337 Shares of QUALCOMM Incorporated (NASDAQ:QCOM) Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the sale, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at $9,374,385.96. This represents a 5.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

QUALCOMM Trading Up 2.6 %

NASDAQ:QCOM opened at $158.49 on Thursday. The company has a market capitalization of $175.29 billion, a P/E ratio of 16.93, a PEG ratio of 2.01 and a beta of 1.25. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The firm has a fifty day simple moving average of $164.73 and a 200-day simple moving average of $165.29.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 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%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.15%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Wall Street Analyst Weigh In

QCOM has been the topic of several research reports. Barclays reduced their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Wells Fargo & Company lifted their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Melius Research assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Susquehanna cut their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $205.32.

Hedge Funds Weigh In On QUALCOMM

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

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.