Qualcomm Inc. (NASDAQ:QCOM) President Derek K. Aberle sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $63.55, for a total value of $953,250.00. Following the completion of the sale, the president now directly owns 33,631 shares in the company, valued at $2,137,250.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Derek K. Aberle also recently made the following trade(s):
- On Wednesday, August 31st, Derek K. Aberle sold 20,874 shares of Qualcomm stock. The shares were sold at an average price of $62.81, for a total value of $1,311,095.94.
Shares of Qualcomm Inc. (NASDAQ:QCOM) opened at 67.45 on Friday. Qualcomm Inc. has a 1-year low of $42.24 and a 1-year high of $68.83. The company has a market capitalization of $99.40 billion, a price-to-earnings ratio of 19.75 and a beta of 1.22. The company’s 50 day moving average price is $62.78 and its 200-day moving average price is $56.17.
Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.19. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.57 billion. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 EPS. On average, equities analysts forecast that Qualcomm Inc. will post $4.30 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 31st were paid a $0.53 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $2.12 annualized dividend and a dividend yield of 3.14%. Qualcomm’s payout ratio is currently 62.17%.
Several hedge funds have recently bought and sold shares of QCOM. Williams Jones & Associates LLC increased its stake in Qualcomm by 2.1% in the second quarter. Williams Jones & Associates LLC now owns 18,110 shares of the wireless technology company’s stock valued at $970,000 after buying an additional 375 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Qualcomm during the second quarter valued at $3,177,000. Kentucky Retirement Systems acquired a new stake in shares of Qualcomm during the second quarter valued at approximately $6,692,000. Mason Street Advisors LLC acquired a new stake in shares of Qualcomm during the second quarter valued at approximately $10,599,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Qualcomm by 1.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 70,295 shares of the wireless technology company’s stock valued at $3,764,000 after buying an additional 739 shares in the last quarter. Institutional investors own 78.05% of the company’s stock.
Several analysts recently weighed in on the company. Mizuho raised Qualcomm from a “neutral” rating to a “buy” rating in a research note on Thursday. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 target price on shares of Qualcomm in a research report on Thursday, September 22nd. Vetr upgraded Qualcomm from a “hold” rating to a “buy” rating and set a $66.21 target price for the company in a research report on Wednesday, August 31st. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 target price on shares of Qualcomm in a research report on Tuesday, September 20th. Finally, Zacks Investment Research downgraded Qualcomm from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $62.08.
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.
Receive News & Ratings for Qualcomm Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qualcomm Inc. and related companies with MarketBeat.com's FREE daily email newsletter.