Insider Selling: QUALCOMM Incorporated (NASDAQ:QCOM) Director Sells 2,056 Shares of Stock

QUALCOMM Incorporated (NASDAQ:QCOM) Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

QUALCOMM Stock Up 1.2 %

NASDAQ:QCOM opened at $181.85 on Tuesday. The company’s 50-day simple moving average is $168.19 and its 200-day simple moving average is $147.58. 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 fifty-two week low of $101.47 and a fifty-two week high of $183.19. The stock has a market capitalization of $202.94 billion, a P/E ratio of 24.44, a P/E/G ratio of 2.27 and a beta of 1.33.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.87%. 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 (DPR) is 43.01%.

Institutional Trading of QUALCOMM

Institutional investors have recently made changes to their positions in the business. Metis Global Partners LLC raised its stake in QUALCOMM by 1.0% in the first quarter. Metis Global Partners LLC now owns 65,797 shares of the wireless technology company’s stock valued at $11,139,000 after buying an additional 629 shares during the last quarter. Empowered Funds LLC raised its position in shares of QUALCOMM by 99.8% in the 1st quarter. Empowered Funds LLC now owns 120,578 shares of the wireless technology company’s stock valued at $20,414,000 after purchasing an additional 60,233 shares during the last quarter. AIA Group Ltd boosted its stake in QUALCOMM by 3.4% in the 1st quarter. AIA Group Ltd now owns 22,265 shares of the wireless technology company’s stock worth $3,769,000 after purchasing an additional 740 shares in the last quarter. LSV Asset Management grew its position in QUALCOMM by 7.1% during the 1st quarter. LSV Asset Management now owns 2,748,718 shares of the wireless technology company’s stock worth $465,358,000 after purchasing an additional 182,627 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of QUALCOMM by 3.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 60,297 shares of the wireless technology company’s stock worth $10,208,000 after buying an additional 2,018 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on QCOM shares. Mizuho boosted their target price on QUALCOMM from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Canaccord Genuity Group upped their price objective on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Susquehanna lifted their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price target on shares of QUALCOMM in a report on Thursday, May 2nd. Finally, UBS Group lifted their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.36.

About QUALCOMM

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.