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

QUALCOMM Incorporated (NASDAQ:QCOM) CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the transaction, the chief technology officer now directly owns 253,893 shares in the company, valued at $46,208,526. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

QUALCOMM Trading Down 0.3 %

QCOM stock opened at $179.64 on Friday. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $183.19. The company has a quick ratio of 1.88, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The firm has a market cap of $200.48 billion, a P/E ratio of 24.15, a PEG ratio of 2.47 and a beta of 1.33. The company’s 50-day simple moving average is $167.69 and its 200-day simple moving average is $146.59.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. As a group, equities analysts forecast that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 43.01%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Mizuho boosted their target price on QUALCOMM from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. Benchmark reissued a “buy” rating and set a $200.00 target price on shares of QUALCOMM in a research report on Friday. Bank of America upped their price target on shares of QUALCOMM from $173.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler lifted their price objective on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Citigroup upped their target price on QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $179.36.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors have recently added to or reduced their stakes in the stock. Grandview Asset Management LLC lifted its holdings in QUALCOMM by 2.3% during the first quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after purchasing an additional 62 shares in the last quarter. Tealwood Asset Management Inc. boosted its holdings in QUALCOMM by 0.6% in the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock worth $1,676,000 after buying an additional 63 shares during the last quarter. VERITY Wealth Advisors increased its stake in QUALCOMM by 0.8% during the 1st quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock worth $1,320,000 after buying an additional 64 shares in the last quarter. SlateStone Wealth LLC raised its holdings in shares of QUALCOMM by 1.7% during the first quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company’s stock valued at $656,000 after acquiring an additional 65 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC lifted its position in shares of QUALCOMM by 1.2% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock valued at $831,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

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.