QUALCOMM Incorporated (NASDAQ:QCOM) Insider Heather S. Ace Sells 1,600 Shares

QUALCOMM Incorporated (NASDAQ:QCOM) insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $152.80 on Thursday. The stock has a 50-day simple moving average of $164.74 and a two-hundred day simple moving average of $164.70. The firm has a market capitalization of $169.00 billion, a P/E ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.23%. QUALCOMM’s payout ratio is currently 36.32%.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors have recently modified their holdings of the stock. Northstar Financial Companies Inc. purchased a new position in shares of QUALCOMM in the 4th quarter valued at about $928,000. IronOak Wealth LLC. purchased a new position in shares of QUALCOMM in the 4th quarter valued at about $284,000. Wood Tarver Financial Group LLC acquired a new stake in QUALCOMM in the 4th quarter worth about $31,000. Castle Rock Wealth Management LLC boosted its holdings in QUALCOMM by 5.1% in the 4th quarter. Castle Rock Wealth Management LLC now owns 9,330 shares of the wireless technology company’s stock worth $1,433,000 after buying an additional 456 shares during the last quarter. Finally, Dogwood Wealth Management LLC boosted its holdings in QUALCOMM by 7.8% in the 4th quarter. Dogwood Wealth Management LLC now owns 4,135 shares of the wireless technology company’s stock worth $635,000 after buying an additional 299 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on QCOM. Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Piper Sandler decreased their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Mizuho decreased their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Benchmark reiterated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Finally, Evercore ISI dropped their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $205.32.

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.