QUALCOMM Incorporated (NASDAQ:QCOM) CFO Akash J. Palkhiwala Sells 269 Shares

QUALCOMM Incorporated (NASDAQ:QCOM) CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

QUALCOMM Stock Down 3.9 %

Shares of NASDAQ QCOM opened at $124.66 on Wednesday. The company’s 50 day moving average price is $159.04 and its 200-day moving average price is $162.17. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The company has a market capitalization of $137.87 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released 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%. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.73%. QUALCOMM’s payout ratio is currently 36.32%.

Hedge Funds Weigh In On QUALCOMM

Several institutional investors have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new position in shares of QUALCOMM during the third quarter valued at about $39,000. MML Investors Services LLC raised its stake in QUALCOMM by 8.3% during the 3rd quarter. MML Investors Services LLC now owns 276,610 shares of the wireless technology company’s stock worth $47,038,000 after buying an additional 21,216 shares during the period. Groupama Asset Managment boosted its holdings in QUALCOMM by 31.8% in the third quarter. Groupama Asset Managment now owns 32,995 shares of the wireless technology company’s stock worth $5,611,000 after acquiring an additional 7,969 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in QUALCOMM by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 526,616 shares of the wireless technology company’s stock valued at $89,551,000 after acquiring an additional 3,171 shares during the period. Finally, Drucker Wealth 3.0 LLC raised its position in shares of QUALCOMM by 3.1% during the third quarter. Drucker Wealth 3.0 LLC now owns 7,410 shares of the wireless technology company’s stock worth $1,260,000 after purchasing an additional 224 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on QCOM. Evercore ISI dropped their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. 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. Mizuho dropped their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Piper Sandler cut their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

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.