Qualcomm Inc (QCOM)

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QUALCOMM Incorporated (NASDAQ:QCOM) President Cristiano R. Amon Sells 73,220 Shares
By: MarketBeat | December 16, 2020

QUALCOMM Incorporated (NASDAQ:QCOM) President Cristiano R. Amon sold 73,220 shares of the firm's stock in a transaction on Wednesday, December 16th. The shares were sold at an average price of $148.72, for a total transaction of $10,889,278.40. Following the completion of the transaction, the president now directly owns 50,753 shares of the company's stock, valued at approximately $7,547,986.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of NASDAQ:QCOM traded up $1.38 during midday trading on Wednesday, hitting $149.74. The stock had a trading volume of 6,390,183 shares, compared to its average volume of 9,974,087. The company's 50-day moving average price is $143.10 and its 200-day moving average price is $114.79. The company has a market capitalization of $169.36 billion, a P/E ratio of 62.47, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The company has a quick ratio of 1.67, a current ratio of 1.97 and a debt-to-equity ratio of 4.67. QUALCOMM Incorporated has a fifty-two week low of $58.00 and a fifty-two week high of $161.07.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 4th. The wireless technology company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.17 by $0.28. The company had revenue of $6.50 billion during the quarter, compared to analysts' expectations of $5.94 billion. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The business's revenue for the quarter was up 35.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 EPS. Research analysts expect that QUALCOMM Incorporated will post 3.2 EPS for the current fiscal year.

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 $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, December 2nd. QUALCOMM's payout ratio is presently 91.55%.

A number of research analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of QUALCOMM from $140.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday, December 4th. Citigroup raised their target price on shares of QUALCOMM from $108.00 to $132.00 and gave the company a "buy" rating in a research report on Monday, September 28th. Cascend Securities lifted their price objective on shares of QUALCOMM from $145.00 to $165.00 and gave the company a "buy" rating in a research report on Thursday, November 5th. Raymond James lifted their price objective on shares of QUALCOMM from $120.00 to $150.00 and gave the company a "strong-buy" rating in a research report on Thursday, November 5th. Finally, Oppenheimer reissued a "hold" rating on shares of QUALCOMM in a research report on Thursday, November 5th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. QUALCOMM presently has a consensus rating of "Buy" and an average target price of $143.31.

Several institutional investors have recently made changes to their positions in the stock. ICW Investment Advisors LLC grew its holdings in shares of QUALCOMM by 2.3% during the 3rd quarter. ICW Investment Advisors LLC now owns 3,440 shares of the wireless technology company's stock valued at $405,000 after purchasing an additional 78 shares during the last quarter. AlphaCrest Capital Management LLC grew its holdings in shares of QUALCOMM by 2.3% during the 3rd quarter. AlphaCrest Capital Management LLC now owns 3,843 shares of the wireless technology company's stock valued at $452,000 after purchasing an additional 86 shares during the last quarter. Ayrshire Capital Management LLC grew its holdings in shares of QUALCOMM by 1.0% during the 3rd quarter. Ayrshire Capital Management LLC now owns 8,539 shares of the wireless technology company's stock valued at $1,005,000 after purchasing an additional 87 shares during the last quarter. Trellis Advisors LLC grew its holdings in shares of QUALCOMM by 1.2% during the 3rd quarter. Trellis Advisors LLC now owns 7,651 shares of the wireless technology company's stock valued at $900,000 after purchasing an additional 89 shares during the last quarter. Finally, Williams Jones Wealth Management LLC. grew its holdings in shares of QUALCOMM by 0.9% during the 3rd quarter. Williams Jones Wealth Management LLC. now owns 10,435 shares of the wireless technology company's stock valued at $1,228,000 after purchasing an additional 90 shares during the last quarter. 74.79% of the stock is currently owned by institutional investors.

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