Michelle M. Sterling Sells 7,840 Shares of QUALCOMM Incorporated (QCOM) Stock
QUALCOMM Incorporated (NASDAQ:QCOM) EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total value of $521,830.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
QUALCOMM Incorporated (NASDAQ QCOM) opened at $68.13 on Thursday. QUALCOMM Incorporated has a fifty-two week low of $48.92 and a fifty-two week high of $70.24. The firm has a market capitalization of $98,282.58, a price-to-earnings ratio of 17.64, a P/E/G ratio of 1.86 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 (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter last year, the firm earned $1.28 earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. equities analysts forecast that QUALCOMM Incorporated will post 3.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s payout ratio is currently 138.18%.
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A number of institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC acquired a new position in QUALCOMM in the third quarter valued at $2,740,000. Public Employees Retirement System of Ohio boosted its holdings in QUALCOMM by 0.4% in the third quarter. Public Employees Retirement System of Ohio now owns 1,017,216 shares of the wireless technology company’s stock valued at $52,732,000 after acquiring an additional 3,839 shares during the last quarter. GSA Capital Partners LLP acquired a new position in QUALCOMM in the third quarter valued at $536,000. Coastline Trust Co boosted its holdings in QUALCOMM by 42.9% in the third quarter. Coastline Trust Co now owns 21,210 shares of the wireless technology company’s stock valued at $1,100,000 after acquiring an additional 6,370 shares during the last quarter. Finally, Garde Capital Inc. boosted its holdings in QUALCOMM by 77.8% in the third quarter. Garde Capital Inc. now owns 17,252 shares of the wireless technology company’s stock valued at $894,000 after acquiring an additional 7,547 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.
A number of analysts have weighed in on the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $55.00 price objective on shares of QUALCOMM in a research report on Thursday, August 24th. William Blair reaffirmed a “market perform” rating on shares of QUALCOMM in a research report on Tuesday, September 5th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of QUALCOMM in a research report on Monday, July 31st. Zacks Investment Research raised QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Sanford C. Bernstein reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $65.42.
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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