QUALCOMM Incorporated (NASDAQ:QCOM) Director Sells $366,399.76 in Stock

QUALCOMM Incorporated (NASDAQ:QCOM) Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now owns 54 shares in the company, valued at $9,623.34. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $180.55 on Thursday. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $184.31. The firm has a 50 day simple moving average of $168.62 and a 200-day simple moving average of $148.09. The firm has a market cap of $201.49 billion, a PE ratio of 24.27, a P/E/G ratio of 2.27 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.88%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Analyst Ratings Changes

Several brokerages have recently weighed in on QCOM. Canaccord Genuity Group lifted their target price on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a research note on Thursday, May 2nd. Citigroup lifted their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. TD Cowen increased their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Evercore ISI initiated coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $180.48.

Hedge Funds Weigh In On QUALCOMM

Institutional investors have recently added to or reduced their stakes in the business. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the 1st quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. increased its position in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares during the last quarter. Richardson Capital Management LLC purchased a new position in QUALCOMM during the first quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of QUALCOMM during the 4th quarter valued at $32,000. Finally, Cherry Tree Wealth Management LLC increased its holdings in shares of QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after buying an additional 115 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.