QUALCOMM Incorporated (QCOM) EVP Sells $59,886.48 in Stock
QUALCOMM Incorporated (NASDAQ:QCOM) EVP Alexander H. Rogers sold 874 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the sale, the executive vice president now directly owns 12,035 shares in the company, valued at approximately $824,638.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of QUALCOMM Incorporated (NASDAQ QCOM) traded up $0.51 during midday trading on Thursday, hitting $67.03. The stock had a trading volume of 6,109,413 shares, compared to its average volume of 11,367,791. The company has a market cap of $100,803.40, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.91 and a beta of 1.26. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81. QUALCOMM Incorporated has a 12 month low of $48.92 and a 12 month high of $70.24.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. QUALCOMM’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 EPS. sell-side analysts anticipate that QUALCOMM Incorporated will post 3.07 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s payout ratio is 138.18%.
Several hedge funds and other institutional investors have recently made changes to their positions in QCOM. Vanguard Group Inc. grew its holdings in QUALCOMM by 1.5% during the second quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock worth $5,714,418,000 after purchasing an additional 1,537,645 shares during the period. FMR LLC grew its holdings in QUALCOMM by 16.5% during the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after purchasing an additional 11,387,347 shares during the period. Capital International Investors grew its holdings in QUALCOMM by 41.8% during the third quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock worth $1,112,250,000 after purchasing an additional 6,322,645 shares during the period. Northern Trust Corp grew its holdings in QUALCOMM by 2.6% during the second quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock worth $1,077,848,000 after purchasing an additional 499,531 shares during the period. Finally, Veritas Asset Management LLP grew its holdings in QUALCOMM by 68.4% during the third quarter. Veritas Asset Management LLP now owns 13,429,265 shares of the wireless technology company’s stock worth $696,173,000 after purchasing an additional 5,453,631 shares during the period. Institutional investors own 76.66% of the company’s stock.
QCOM has been the topic of several research analyst reports. Canaccord Genuity raised their price objective on QUALCOMM from $70.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. Zacks Investment Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Tuesday, October 17th. Stifel Nicolaus reaffirmed a “buy” rating on shares of QUALCOMM in a research note on Thursday, October 12th. Finally, UBS dropped their price objective on QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eleven have given a buy rating to the company’s stock. QUALCOMM currently has a consensus rating of “Hold” and a consensus price target of $66.02.
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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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