QUALCOMM (NASDAQ:QCOM) Shares Down 0.7% After Insider Selling

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) dropped 0.7% during trading on Monday after an insider sold shares in the company. The stock traded as low as $162.65 and last traded at $164.25. Approximately 1,892,233 shares were traded during trading, a decline of 75% from the average daily volume of 7,610,223 shares. The stock had previously closed at $165.43.

Specifically, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several analyst reports. Evercore ISI reduced their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. Mizuho reduced their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Melius Research started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Trading Down 2.6 %

The business’s 50-day moving average is $164.52 and its two-hundred day moving average is $165.81. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock has a market capitalization of $178.18 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted 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%. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Liberty Square Wealth Partners LLC purchased a new stake in shares of QUALCOMM during the 4th quarter worth about $307,000. Cypress Asset Management Inc. TX acquired a new position in shares of QUALCOMM in the 4th quarter valued at approximately $4,803,000. Ameriflex Group Inc. acquired a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $66,000. United Advisor Group LLC raised its position in shares of QUALCOMM by 136.8% during the 4th quarter. United Advisor Group LLC now owns 5,468 shares of the wireless technology company’s stock valued at $840,000 after acquiring an additional 3,159 shares in the last quarter. Finally, Sunbeam Capital Management LLC acquired a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $237,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

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.