Akash J. Palkhiwala Sells 648 Shares of QUALCOMM Incorporated (NASDAQ:QCOM) Stock

QUALCOMM Incorporated (NASDAQ:QCOM) CFO Akash J. Palkhiwala sold 648 shares of QUALCOMM stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $141.11, for a total transaction of $91,439.28. Following the transaction, the chief financial officer now directly owns 56,445 shares of the company’s stock, valued at approximately $7,964,953.95. This represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

QUALCOMM Price Performance

NASDAQ QCOM traded down $9.19 during trading hours on Thursday, reaching $134.40. The company’s stock had a trading volume of 14,621,913 shares, compared to its average volume of 8,849,099. The firm has a market capitalization of $148.65 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 2.01 and a beta of 1.28. The company’s 50-day moving average is $157.89 and its two-hundred day moving average is $161.88. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.53%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Hedge Funds Weigh In On QUALCOMM

Hedge funds have recently made changes to their positions in the company. Eagle Strategies LLC lifted its holdings in QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock valued at $219,000 after purchasing an additional 59 shares in the last quarter. Clark Capital Management Group Inc. lifted its stake in shares of QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock worth $264,000 after buying an additional 59 shares in the last quarter. TBH Global Asset Management LLC boosted its position in QUALCOMM by 0.9% during the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after acquiring an additional 63 shares during the last quarter. PDS Planning Inc grew its stake in QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock valued at $631,000 after acquiring an additional 64 shares in the last quarter. Finally, Toth Financial Advisory Corp raised its holdings in QUALCOMM by 3.1% in the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on QCOM shares. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Benchmark reiterated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Evercore ISI cut their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Finally, Piper Sandler decreased their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $202.64.

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.