Shares of QUALCOMM, Inc. (NASDAQ:QCOM) gapped down before the market opened on Tuesday after an insider sold shares in the company. The stock had previously closed at $65.85, but opened at $62.81. QUALCOMM shares last traded at $59.70, with a volume of 38538950 shares traded.
Specifically, EVP Alexander H. Rogers sold 919 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $64.32, for a total value of $59,110.08. Following the completion of the sale, the executive vice president now owns 11,116 shares of the company’s stock, valued at approximately $714,981.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matthew S. Grob sold 43,000 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total value of $2,810,050.00. Following the completion of the sale, the executive vice president now directly owns 43,000 shares of the company’s stock, valued at approximately $2,810,050. The disclosure for this sale can be found here. Insiders have sold a total of 95,938 shares of company stock worth $6,137,671 in the last ninety days. Insiders own 0.24% of the company’s stock.
QCOM has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price objective on QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. Vetr cut QUALCOMM from a “buy” rating to a “hold” rating and set a $69.52 price objective for the company. in a research report on Thursday, November 23rd. Stifel Nicolaus cut QUALCOMM from a “buy” rating to a “hold” rating and raised their price objective for the stock from $65.00 to $75.00 in a research report on Tuesday, November 28th. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, BidaskClub cut QUALCOMM from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $68.25.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.07. The business had revenue of $6.10 billion during the quarter, compared to analyst estimates of $5.93 billion. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. equities analysts predict that QUALCOMM, Inc. will post 2.8 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.82%. QUALCOMM’s payout ratio is currently -93.06%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Truewealth LLC purchased a new position in shares of QUALCOMM during the 4th quarter valued at about $102,000. We Are One Seven LLC acquired a new stake in shares of QUALCOMM during the 4th quarter valued at about $119,000. Gradient Investments LLC acquired a new stake in shares of QUALCOMM during the 4th quarter valued at about $120,000. Cerebellum GP LLC acquired a new stake in shares of QUALCOMM during the 4th quarter valued at about $126,000. Finally, Westwood Holdings Group Inc. acquired a new stake in shares of QUALCOMM during the 2nd quarter valued at about $114,000. Institutional investors and hedge funds own 78.11% of the company’s stock.
QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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