Qualcomm Inc. (NASDAQ:QCOM) EVP Matthew S. Grob sold 74,000 shares of the company’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $66.63, for a total transaction of $4,930,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Qualcomm Inc. (NASDAQ:QCOM) opened at 68.50 on Friday. The company has a market capitalization of $100.94 billion, a PE ratio of 20.06 and a beta of 1.22. The firm has a 50-day moving average price of $62.97 and a 200-day moving average price of $56.28. Qualcomm Inc. has a 1-year low of $42.24 and a 1-year high of $70.40.
Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.19. The business earned $5.60 billion during 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%. Qualcomm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company earned $0.99 earnings per share. Equities analysts anticipate that Qualcomm Inc. will post $4.30 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 31st were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.09%. Qualcomm’s payout ratio is presently 62.17%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Krilogy Financial LLC increased its position in Qualcomm by 61.8% in the second quarter. Krilogy Financial LLC now owns 2,071 shares of the wireless technology company’s stock worth $111,000 after buying an additional 791 shares during the last quarter. Pinkerton Retirement Specialists LLC boosted its position in shares of Qualcomm by 3,479.3% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,076 shares of the wireless technology company’s stock valued at $111,000 after buying an additional 2,018 shares during the period. CapWealth Advisors LLC boosted its position in shares of Qualcomm by 37.8% in the first quarter. CapWealth Advisors LLC now owns 2,188 shares of the wireless technology company’s stock valued at $112,000 after buying an additional 600 shares during the period. Joel Isaacson & Co. LLC boosted its position in shares of Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock valued at $119,000 after buying an additional 103 shares during the period. Finally, Americafirst Capital Management LLC bought a new position in shares of Qualcomm during the second quarter valued at approximately $121,000. Institutional investors and hedge funds own 78.05% of the company’s stock.
Several equities analysts have issued reports on QCOM shares. BMO Capital Markets cut shares of Qualcomm from a “market perform” rating to an “underperform” rating and set a $50.00 price objective on the stock. in a research note on Thursday, July 14th. Mizuho boosted their price objective on shares of Qualcomm from $56.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, September 6th. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price objective on shares of Qualcomm in a research note on Tuesday, September 20th. Pacific Crest boosted their price objective on shares of Qualcomm from $59.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, July 21st. Finally, Evercore ISI cut shares of Qualcomm from a “buy” rating to a “hold” rating and dropped their price objective for the company from $60.00 to $55.00 in a research note on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Qualcomm has an average rating of “Buy” and a consensus price target of $63.02.
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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