QUALCOMM Incorporated (NASDAQ:QCOM) CAO Sells $197,653.95 in Stock

QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) CAO Erin L. Polek sold 1,521 shares of the company’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $129.95, for a total value of $197,653.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

QCOM traded up $0.52 during trading on Monday, reaching $132.12. 10,017,381 shares of the company’s stock were exchanged, compared to its average volume of 11,316,246. QUALCOMM Incorporated has a fifty-two week low of $122.17 and a fifty-two week high of $193.58. The company has a quick ratio of 1.27, a current ratio of 1.61 and a debt-to-equity ratio of 0.91. The business has a 50 day moving average price of $142.77 and a 200 day moving average price of $163.33. The company has a market capitalization of $147.97 billion, a P/E ratio of 13.52, a PEG ratio of 0.72 and a beta of 1.20.

QUALCOMM (NASDAQ:QCOMGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The wireless technology company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.19. QUALCOMM had a return on equity of 103.73% and a net margin of 28.42%. The firm had revenue of $11.16 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the firm posted $1.59 EPS. As a group, research analysts forecast that QUALCOMM Incorporated will post 11.12 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 23rd. Shareholders of record on Thursday, June 2nd will be paid a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, June 1st. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.68. This represents a $3.00 annualized dividend and a dividend yield of 2.27%. QUALCOMM’s payout ratio is presently 27.84%.

QCOM has been the topic of several research reports. KeyCorp lowered their price target on QUALCOMM from $230.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 12th. Robert W. Baird lifted their price objective on shares of QUALCOMM from $200.00 to $250.00 in a research note on Friday, February 4th. Sanford C. Bernstein upped their price objective on shares of QUALCOMM from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, February 3rd. Canaccord Genuity Group increased their target price on shares of QUALCOMM from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 3rd. Finally, Zacks Investment Research lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $155.00 target price on the stock. in a report on Wednesday, April 6th. Ten investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $194.77.

A number of hedge funds have recently modified their holdings of the stock. Carroll Investors Inc bought a new stake in QUALCOMM during the fourth quarter valued at about $28,000. Joseph P. Lucia & Associates LLC acquired a new position in shares of QUALCOMM during the first quarter worth $28,000. Rise Advisors LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $34,000. Stuart Chaussee & Associates Inc. boosted its holdings in QUALCOMM by 49.6% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 202 shares of the wireless technology company’s stock valued at $37,000 after purchasing an additional 67 shares during the last quarter. Finally, Old North State Trust LLC boosted its stake in shares of QUALCOMM by 58.9% during the 4th quarter. Old North State Trust LLC now owns 205 shares of the wireless technology company’s stock worth $37,000 after acquiring an additional 76 shares in the last quarter. Institutional investors own 73.61% of the company’s stock.

About QUALCOMM (Get Rating)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.

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