Neil Smit Sells 3,069 Shares of QUALCOMM Incorporated (NASDAQ:QCOM) Stock

QUALCOMM Incorporated (NASDAQ:QCOM) Director Neil Smit sold 3,069 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total value of $616,684.86. Following the transaction, the director now directly owns 5,902 shares in the company, valued at approximately $1,185,947.88. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

QUALCOMM Stock Up 1.0 %

NASDAQ QCOM opened at $202.93 on Thursday. The stock has a fifty day moving average of $173.97 and a 200-day moving average of $154.04. The stock has a market capitalization of $226.47 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $204.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.81 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.68%. QUALCOMM’s payout ratio is 45.70%.

Institutional Investors Weigh In On QUALCOMM

Institutional investors have recently made changes to their positions in the stock. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the first quarter worth $27,000. CarsonAllaria Wealth Management Ltd. grew its stake in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the period. Richardson Capital Management LLC acquired a new position in QUALCOMM in the first quarter valued at about $37,000. DiNuzzo Private Wealth Inc. acquired a new position in QUALCOMM in the fourth quarter valued at about $32,000. Finally, Cherry Tree Wealth Management LLC grew its stake in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of analyst reports. Robert W. Baird increased their price objective on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Piper Sandler raised their target price on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. UBS Group raised their target price on QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Wolfe Research raised their target price on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Finally, KeyCorp raised their target price on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $180.48.

QUALCOMM Company Profile

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.