Investors Sell QUALCOMM (QCOM) on Strength on Insider Selling

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Traders sold shares of QUALCOMM, Inc. (NASDAQ:QCOM) on strength during trading on Thursday following insider selling activity. $57.46 million flowed into the stock on the tick-up and $229.95 million flowed out of the stock on the tick-down, for a money net flow of $172.49 million out of the stock. Of all stocks tracked, QUALCOMM had the 0th highest net out-flow for the day. QUALCOMM traded up $0.73 for the day and closed at $55.90Specifically, EVP Alexander H. Rogers sold 662 shares of the business’s stock in a transaction that occurred on Friday, April 27th. The shares were sold at an average price of $50.75, for a total transaction of $33,596.50. Following the completion of the transaction, the executive vice president now owns 8,132 shares in the company, valued at approximately $412,699. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alexander H. Rogers sold 789 shares of the business’s stock in a transaction that occurred on Wednesday, June 27th. The stock was sold at an average price of $56.55, for a total transaction of $44,617.95. Following the transaction, the executive vice president now owns 7,998 shares of the company’s stock, valued at approximately $452,286.90. The disclosure for this sale can be found here. Insiders have sold a total of 30,255 shares of company stock valued at $1,612,477 in the last quarter. 0.17% of the stock is currently owned by company insiders.

Several research firms have commented on QCOM. Wells Fargo & Co began coverage on shares of QUALCOMM in a report on Friday, March 16th. They set a “market perform” rating for the company. Morgan Stanley began coverage on shares of QUALCOMM in a report on Monday, March 19th. They set an “underweight” rating and a $55.00 price target for the company. Deutsche Bank began coverage on shares of QUALCOMM in a report on Thursday, March 15th. They set a “hold” rating and a $60.00 price target for the company. BidaskClub upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Saturday, May 26th. Finally, Cowen started coverage on shares of QUALCOMM in a report on Thursday, May 17th. They set a “market perform” rating and a $58.00 price target for the company. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $63.50.

The company has a market capitalization of $81.81 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 1.77 and a beta of 1.50. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.46 and a current ratio of 3.60.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 25th. The wireless technology company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.10. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.21 billion. QUALCOMM had a negative net margin of 20.16% and a positive return on equity of 16.48%. QUALCOMM’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 EPS. research analysts expect that QUALCOMM, Inc. will post 2.71 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 20th. Investors of record on Wednesday, May 30th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Tuesday, May 29th. This represents a $2.48 dividend on an annualized basis and a yield of 4.42%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.57. QUALCOMM’s dividend payout ratio is currently 65.61%.

QUALCOMM announced that its Board of Directors has authorized a share buyback program on Wednesday, May 9th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the wireless technology company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

A number of large investors have recently modified their holdings of the stock. Loomis Sayles & Co. L P raised its position in QUALCOMM by 0.4% during the 1st quarter. Loomis Sayles & Co. L P now owns 17,783,314 shares of the wireless technology company’s stock worth $985,374,000 after buying an additional 77,817 shares during the last quarter. Geode Capital Management LLC raised its position in QUALCOMM by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 16,243,388 shares of the wireless technology company’s stock worth $1,037,808,000 after buying an additional 498,411 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in QUALCOMM by 4.8% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 11,624,300 shares of the wireless technology company’s stock worth $744,188,000 after buying an additional 534,600 shares during the last quarter. Artisan Partners Limited Partnership raised its position in QUALCOMM by 22.4% during the 1st quarter. Artisan Partners Limited Partnership now owns 11,014,540 shares of the wireless technology company’s stock worth $610,316,000 after buying an additional 2,018,241 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in QUALCOMM by 17.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 9,364,599 shares of the wireless technology company’s stock worth $518,893,000 after buying an additional 1,419,275 shares during the last quarter. Hedge funds and other institutional investors own 76.91% of the company’s stock.

QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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