Insider Selling: QUALCOMM Incorporated (NASDAQ:QCOM) Director Sells 2,056 Shares of Stock

QUALCOMM Incorporated (NASDAQ:QCOM) Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $180.55 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $184.31. The company has a market cap of $201.49 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 2.27 and a beta of 1.33. The stock has a fifty day moving average price of $168.62 and a 200-day moving average price of $148.09.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.88%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on QCOM. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price objective on shares of QUALCOMM in a report on Thursday, May 2nd. Robert W. Baird boosted their price target on shares of QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. HSBC increased their price objective on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Evercore ISI started coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price on the stock. Finally, Morgan Stanley increased their price target on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $180.48.

Hedge Funds Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently made changes to their positions in QCOM. Financial Gravity Asset Management Inc. increased its stake in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the last quarter. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM in the 1st quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. increased its stake in shares of QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in shares of QUALCOMM during the 4th quarter worth $32,000. Finally, Cherry Tree Wealth Management LLC lifted its position in shares of QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after buying an additional 115 shares during the last quarter. 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.