Qualcomm Inc. (NASDAQ:QCOM) Director Raymond V. Dittamore sold 18,000 shares of the firm’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $68.39, for a total value of $1,231,020.00. Following the completion of the sale, the director now directly owns 5,813 shares of the company’s stock, valued at approximately $397,551.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Qualcomm Inc. (NASDAQ:QCOM) opened at 67.11 on Tuesday. The firm has a market capitalization of $98.90 billion, a price-to-earnings ratio of 19.65 and a beta of 1.25. The company’s 50-day moving average price is $63.13 and its 200 day moving average price is $56.47. Qualcomm Inc. has a 52-week low of $42.24 and a 52-week high of $70.40.
Qualcomm (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.97 by $0.19. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The business earned $5.60 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the business posted $0.99 earnings per share. Qualcomm’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts predict that Qualcomm Inc. will post $4.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Monday, August 29th. Qualcomm’s dividend payout ratio is 62.17%.
Several large investors have recently made changes to their positions in the stock. Krilogy Financial LLC increased its stake in shares of Qualcomm by 61.8% in the second quarter. Krilogy Financial LLC now owns 2,071 shares of the wireless technology company’s stock valued at $111,000 after buying an additional 791 shares in the last quarter. Pinkerton Retirement Specialists LLC increased its stake 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 in the last quarter. CapWealth Advisors LLC increased its stake 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 in the last quarter. Joel Isaacson & Co. LLC increased its stake 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 in the last quarter. Finally, Americafirst Capital Management LLC bought a new stake in shares of Qualcomm during the second quarter valued at approximately $121,000. 78.05% of the stock is owned by institutional investors and hedge funds.
QCOM has been the subject of a number of recent analyst reports. Vetr raised Qualcomm from a “buy” rating to a “strong-buy” rating and set a $71.00 target price for the company in a report on Monday, September 26th. Zacks Investment Research downgraded Qualcomm from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. BMO Capital Markets reaffirmed an “underperform” rating and set a $53.00 price target on shares of Qualcomm in a research note on Sunday. Standpoint Research raised Qualcomm from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Thursday, August 25th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 price target on shares of Qualcomm in a research note on Thursday, September 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $63.98.
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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