QUALCOMM Incorporated (NASDAQ:QCOM) Insider Sells $1,665,800.07 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM) insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

QUALCOMM Stock Up 0.2 %

Shares of QCOM opened at $158.53 on Friday. QUALCOMM Incorporated has a one year low of $134.94 and a one year high of $230.63. The company has a market cap of $176.13 billion, a P/E ratio of 17.63, a P/E/G ratio of 2.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The firm has a 50 day simple moving average of $164.97 and a two-hundred day simple moving average of $178.01.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.14%. QUALCOMM’s payout ratio is presently 37.82%.

Institutional Trading of QUALCOMM

A number of hedge funds and other institutional investors have recently modified their holdings of QCOM. Macroview Investment Management LLC grew its stake in shares of QUALCOMM by 10.5% in the second quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after purchasing an additional 57 shares during the last quarter. McClarren Financial Advisors Inc. lifted its position in QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after acquiring an additional 60 shares in the last quarter. Paulson Wealth Management Inc. lifted its position in QUALCOMM by 2.2% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after acquiring an additional 61 shares in the last quarter. Tranquility Partners LLC lifted its position in shares of QUALCOMM by 2.1% during the 2nd quarter. Tranquility Partners LLC now owns 3,044 shares of the wireless technology company’s stock worth $606,000 after buying an additional 62 shares in the last quarter. Finally, Institute for Wealth Management LLC. lifted its position in shares of QUALCOMM by 0.5% during the 2nd quarter. Institute for Wealth Management LLC. now owns 13,843 shares of the wireless technology company’s stock worth $2,757,000 after buying an additional 64 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on QCOM shares. Benchmark restated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. Susquehanna reduced their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. Citigroup reduced their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. reduced their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.