Matthew S. Grob Sells 2,000 Shares of Qualcomm Inc. (QCOM) Stock
Qualcomm Inc. (NASDAQ:QCOM) EVP Matthew S. Grob sold 2,000 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $68.18, for a total transaction of $136,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Qualcomm Inc. (NASDAQ:QCOM) opened at 67.54 on Friday. The stock has a market cap of $99.53 billion, a P/E ratio of 19.78 and a beta of 1.25. The company’s 50-day moving average is $63.54 and its 200-day moving average is $56.73. Qualcomm Inc. has a 12-month low of $42.24 and a 12-month high of $70.40.
Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.19. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.57 billion. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.99 EPS. On average, equities research analysts anticipate that Qualcomm Inc. will post $4.30 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.14%. Qualcomm’s payout ratio is currently 62.17%.
Several equities research analysts have issued reports on the stock. Argus reiterated a “buy” rating and issued a $73.00 price target (up from $70.00) on shares of Qualcomm in a research note on Friday, September 30th. BMO Capital Markets reiterated an “underperform” rating and issued a $53.00 price target on shares of Qualcomm in a research note on Sunday, October 2nd. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $70.00 price target (up from $63.00) on shares of Qualcomm in a research note on Monday. Royal Bank Of Canada lifted their price target on shares of Qualcomm from $59.00 to $70.00 and gave the company a “sector perform” rating in a research note on Monday. Finally, Vetr lowered shares of Qualcomm from a “buy” rating to a “hold” rating and set a $71.00 price target on the stock. in a research note on Monday. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $63.98.
Several hedge funds have recently added to or reduced their stakes in the company. Pinkerton Retirement Specialists LLC increased its stake in 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 worth $111,000 after buying an additional 2,018 shares in the last quarter. Krilogy Financial LLC increased its stake 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 in the last quarter. CapWealth Advisors LLC increased its stake in Qualcomm by 37.8% in the first quarter. CapWealth Advisors LLC now owns 2,188 shares of the wireless technology company’s stock worth $112,000 after buying an additional 600 shares in the last quarter. Joel Isaacson & Co. LLC increased its stake in Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock worth $119,000 after buying an additional 103 shares in the last quarter. Finally, Americafirst Capital Management LLC acquired a new stake in Qualcomm during the second quarter worth $121,000. 78.05% of the stock is currently owned by hedge funds and other institutional investors.
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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