James H. Thompson Sells 8,000 Shares of QUALCOMM Incorporated (NASDAQ:QCOM) Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the sale, the chief technology officer now directly owns 253,893 shares in the company, valued at $46,208,526. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $179.64 on Friday. The firm has a market cap of $200.48 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.33. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $183.19. The firm’s 50-day simple moving average is $167.20 and its 200-day simple moving average is $146.11. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 2.65.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Equities analysts forecast that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.89%. QUALCOMM’s dividend payout ratio (DPR) is 43.01%.

Institutional Trading of QUALCOMM

A number of institutional investors and hedge funds have recently modified their holdings of the business. Coulter & Justus Financial Services LLC acquired a new stake in QUALCOMM during the first quarter worth about $18,321,000. 9258 Wealth Management LLC raised its position in shares of QUALCOMM by 0.9% during the 1st quarter. 9258 Wealth Management LLC now owns 10,258 shares of the wireless technology company’s stock worth $1,737,000 after purchasing an additional 91 shares during the period. Gould Asset Management LLC CA bought a new stake in shares of QUALCOMM in the 1st quarter worth approximately $226,000. WBI Investments LLC boosted its position in QUALCOMM by 50.3% during the 1st quarter. WBI Investments LLC now owns 13,111 shares of the wireless technology company’s stock valued at $2,220,000 after purchasing an additional 4,387 shares during the period. Finally, Team Hewins LLC grew its stake in QUALCOMM by 2.2% during the 1st quarter. Team Hewins LLC now owns 7,761 shares of the wireless technology company’s stock worth $1,314,000 after buying an additional 167 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on QCOM. Susquehanna increased their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. Bank of America upped their price target on QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. Rosenblatt Securities lifted their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Evercore ISI initiated coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.36.

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.