QUALCOMM, Inc. (NASDAQ:QCOM) SVP Erin L. Polek sold 1,478 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total transaction of $103,992.08. Following the transaction, the senior vice president now owns 1,386 shares in the company, valued at $97,518.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
QUALCOMM stock traded up $0.38 on Wednesday, hitting $74.35. 5,059,817 shares of the stock traded hands, compared to its average volume of 16,320,214. The business’s fifty day simple moving average is $73.68 and its 200 day simple moving average is $68.65. The company has a current ratio of 1.77, a quick ratio of 1.61 and a debt-to-equity ratio of 2.46. The firm has a market cap of $89.38 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of 2.03 and a beta of 1.62. QUALCOMM, Inc. has a 1 year low of $49.10 and a 1 year high of $90.34.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.12 billion. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. QUALCOMM’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period last year, the company earned $1.01 EPS. As a group, analysts predict that QUALCOMM, Inc. will post 2.84 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.34%. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.
Several large investors have recently made changes to their positions in the stock. ANTIPODES PARTNERS Ltd grew its stake in shares of QUALCOMM by 4.8% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 1,992,405 shares of the wireless technology company’s stock valued at $151,562,000 after acquiring an additional 91,605 shares during the period. EP Wealth Advisors LLC lifted its holdings in QUALCOMM by 41.4% in the 2nd quarter. EP Wealth Advisors LLC now owns 12,900 shares of the wireless technology company’s stock worth $981,000 after purchasing an additional 3,777 shares in the last quarter. Boston Partners purchased a new position in QUALCOMM in the 2nd quarter worth approximately $6,527,000. Treasurer of the State of North Carolina lifted its holdings in QUALCOMM by 2.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 794,427 shares of the wireless technology company’s stock worth $60,432,000 after purchasing an additional 18,190 shares in the last quarter. Finally, RFG Advisory LLC lifted its holdings in QUALCOMM by 7.7% in the 2nd quarter. RFG Advisory LLC now owns 19,276 shares of the wireless technology company’s stock worth $1,460,000 after purchasing an additional 1,382 shares in the last quarter. Institutional investors own 79.55% of the company’s stock.
A number of research analysts have commented on the stock. Mizuho set a $68.00 price target on shares of QUALCOMM and gave the company a “hold” rating in a research report on Monday. Raymond James upgraded shares of QUALCOMM from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $85.00 to $115.00 in a report on Thursday, May 2nd. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Monday, May 6th. Morgan Stanley set a $89.00 target price on shares of QUALCOMM and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $84.00 target price on shares of QUALCOMM in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $79.69.
QUALCOMM Company Profile
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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