Insider Selling: Qualcomm (NASDAQ:QCOM) EVP Sells $242,471.54 in Stock

Qualcomm Incorporated (NASDAQ:QCOM) EVP Ann Chaplin sold 1,501 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $161.54, for a total transaction of $242,471.54. Following the sale, the executive vice president directly owned 27,271 shares in the company, valued at $4,405,357.34. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Qualcomm Stock Performance

Shares of Qualcomm stock opened at $165.41 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.86 and a quick ratio of 1.14. The firm has a 50 day simple moving average of $178.11 and a 200 day simple moving average of $169.52. Qualcomm Incorporated has a fifty-two week low of $121.99 and a fifty-two week high of $259.92. The firm has a market cap of $176.99 billion, a P/E ratio of 13.02, a P/E/G ratio of 2.61 and a beta of 1.70.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.01. The firm had revenue of $10.44 billion for the quarter, compared to the consensus estimate of $10.12 billion. Qualcomm had a return on equity of 30.62% and a net margin of 31.60%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.00 EPS. Sell-side analysts predict that Qualcomm Incorporated will post 7.16 earnings per share for the current fiscal year.

Qualcomm Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be given a dividend of $0.92 per share. The ex-dividend date is Thursday, December 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.2%. Qualcomm’s payout ratio is presently 28.98%.

Hedge Funds Weigh In On Qualcomm

A number of hedge funds and other institutional investors have recently made changes to their positions in QCOM. BlackRock Inc. bought a new position in Qualcomm in the 2nd quarter worth about $17,583,115,000. Bank of New York Mellon Corp purchased a new position in Qualcomm during the 2nd quarter valued at about $1,523,930,000. Deutsche Bank AG bought a new stake in shares of Qualcomm during the second quarter valued at about $1,178,349,000. Amundi increased its position in shares of Qualcomm by 94.1% during the second quarter. Amundi now owns 10,195,741 shares of the wireless technology company’s stock valued at $1,884,071,000 after buying an additional 4,942,908 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Qualcomm by 22.7% in the second quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company’s stock worth $3,178,872,000 after buying an additional 3,179,720 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on QCOM shares. Benchmark decreased their price target on Qualcomm from $300.00 to $270.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Susquehanna cut their target price on shares of Qualcomm from $185.00 to $165.00 and set a “neutral” rating on the stock in a research report on Thursday. Robert W. Baird set a $320.00 target price on shares of Qualcomm in a research report on Thursday. UBS Group reduced their target price on shares of Qualcomm from $185.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Sanford C. Bernstein lowered their price target on shares of Qualcomm from $165.00 to $155.00 and set a “market perform” rating for the company in a research report on Monday, November 2nd. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $197.55.

Trending Headlines about Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm’s fiscal Q4 revenue of $10.44 billion and non-GAAP EPS of $2.17 edged past estimates. Automotive growth and the company’s data-center ambitions offer potential sources of diversification. Article: Is Qualcomm Stock Worth Buying After Mixed Q4 Results?
• Positive Sentiment: A broader market recovery helped lift shares after Thursday’s sharp sell-off, as investors reassessed fears that election-related policy changes could slow data-center investment. Article: Tech executives react to post-midterm AI sell-off
• Positive Sentiment: Alphabet disclosed a $548 million Qualcomm stake, a potentially supportive signal of institutional investor interest. Article: Alphabet discloses Qualcomm stake
• Positive Sentiment: Qualcomm is also set to provide chips and software for SpaceX’s planned terrestrial mobile network, adding a potential opportunity beyond its traditional handset market. Article: SpaceX Qualcomm 5G deal
• Neutral Sentiment: EVP Ann Chaplin sold 1,501 shares under a pre-arranged Rule 10b5-1 plan and retained 27,271 shares; the planned sale may carry limited signaling weight. SEC filing
• Negative Sentiment: Despite the beat, year-over-year revenue and earnings declined, and weak profit guidance, handset softness and rising component costs are weighing on expectations. Analysts have also cut price targets, while concerns about data-center investment and margins remain. Article: Qualcomm beat earnings, but its fastest-growing businesses have a catch

Qualcomm Company Profile

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications.

Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.