Raymond V. Dittamore Sells 18,000 Shares of Qualcomm Inc. (QCOM) Stock
Qualcomm Inc. (NASDAQ:QCOM) Director Raymond V. Dittamore sold 18,000 shares of the firm’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $68.39, for a total transaction of $1,231,020.00. Following the sale, the director now owns 5,813 shares of the company’s stock, valued at $397,551.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Qualcomm Inc. (NASDAQ:QCOM) opened at 66.84 on Thursday. The firm has a market cap of $98.50 billion, a P/E ratio of 19.57 and a beta of 1.25. Qualcomm Inc. has a one year low of $42.24 and a one year high of $70.40. The company has a 50-day moving average of $63.38 and a 200 day moving average of $56.65.
Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, beating the Zacks’ 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 company earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the business earned $0.99 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts expect that Qualcomm Inc. will post $4.28 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 31st were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Monday, August 29th. Qualcomm’s dividend payout ratio is currently 62.17%.
A number of analysts have weighed in on QCOM shares. Vetr upgraded shares of Qualcomm from a “buy” rating to a “strong-buy” rating and set a $71.00 price objective for the company in a research note on Monday, September 26th. Zacks Investment Research lowered shares of Qualcomm from a “buy” rating to a “hold” rating in a research note on Wednesday, September 21st. BMO Capital Markets reiterated an “underperform” rating and issued a $53.00 price target on shares of Qualcomm in a research note on Sunday. Standpoint Research upgraded shares of 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, Cowen and Company lifted their price target on shares of Qualcomm from $62.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, September 30th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $63.98.
A number of large investors have recently modified their holdings of QCOM. First Republic Investment Management Inc. raised its position in Qualcomm by 3.4% in the first quarter. First Republic Investment Management Inc. now owns 844,615 shares of the wireless technology company’s stock worth $43,194,000 after buying an additional 27,934 shares during the last quarter. Conning Inc. raised its position in Qualcomm by 4.2% in the second quarter. Conning Inc. now owns 475,737 shares of the wireless technology company’s stock worth $25,485,000 after buying an additional 19,357 shares during the last quarter. Orbis Allan Gray Ltd bought a new position in Qualcomm during the first quarter worth about $865,645,000. Legal & General Group Plc raised its position in Qualcomm by 2.4% in the first quarter. Legal & General Group Plc now owns 7,071,165 shares of the wireless technology company’s stock worth $361,632,000 after buying an additional 166,659 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Qualcomm by 13.2% in the first quarter. Envestnet Asset Management Inc. now owns 816,491 shares of the wireless technology company’s stock worth $41,755,000 after buying an additional 95,268 shares during the last quarter. Institutional investors own 78.05% 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.
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.