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

QUALCOMM Incorporated (NASDAQ:QCOM) CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

QUALCOMM Trading Up 0.4 %

QUALCOMM stock traded up $0.85 during mid-day trading on Monday, hitting $200.03. The company’s stock had a trading volume of 6,798,058 shares, compared to its average volume of 9,349,510. The company has a 50 day moving average of $195.82 and a 200-day moving average of $169.67. The stock has a market cap of $223.23 billion, a PE ratio of 26.77, a P/E/G ratio of 2.42 and a beta of 1.27. 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 one year low of $104.33 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. On average, research analysts anticipate that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.70%. The ex-dividend date was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is 45.70%.

Hedge Funds Weigh In On QUALCOMM

Hedge funds have recently bought and sold shares of the business. Peoples Bank OH purchased a new stake in shares of QUALCOMM in the 4th quarter worth $219,000. Bank Hapoalim BM lifted its holdings in shares of QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after buying an additional 9,192 shares during the period. NewEdge Wealth LLC lifted its holdings in shares of QUALCOMM by 120.2% in the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after buying an additional 11,285 shares during the period. 1834 Investment Advisors Co. lifted its holdings in shares of QUALCOMM by 6.6% in the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after buying an additional 2,818 shares during the period. Finally, Alexander Randolph Advisory Inc. purchased a new stake in shares of QUALCOMM in the 4th quarter worth $305,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. HSBC boosted their price target on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Robert W. Baird boosted their price target on QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Piper Sandler lifted their price objective on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Susquehanna lifted their price objective on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. Finally, Benchmark reaffirmed a “buy” rating and issued a $200.00 price objective on shares of QUALCOMM in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $192.13.

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.