Insider Selling: QUALCOMM, Inc. (QCOM) EVP Sells 5,560 Shares of Stock

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QUALCOMM, Inc. (NASDAQ:QCOM) EVP Michelle M. Sterling sold 5,560 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $86.44, for a total transaction of $480,606.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NASDAQ QCOM traded down $1.29 on Friday, reaching $81.52. 1,350,147 shares of the company’s stock traded hands, compared to its average volume of 23,148,306. The stock has a market capitalization of $104.87 billion, a P/E ratio of 25.55, a PEG ratio of 1.90 and a beta of 1.45. QUALCOMM, Inc. has a 12 month low of $49.10 and a 12 month high of $90.34. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.55 and a quick ratio of 1.39.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.07. The firm had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.83 billion. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 earnings per share. As a group, equities analysts expect that QUALCOMM, Inc. will post 3.32 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 6th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Wednesday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.

Several large investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its stake in shares of QUALCOMM by 9,505.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 33,612,696 shares of the wireless technology company’s stock valued at $591,000 after purchasing an additional 33,262,770 shares during the period. Bank of New York Mellon Corp lifted its stake in QUALCOMM by 24.1% in the fourth quarter. Bank of New York Mellon Corp now owns 25,852,938 shares of the wireless technology company’s stock worth $1,471,289,000 after acquiring an additional 5,022,323 shares during the period. Primecap Management Co. CA lifted its stake in QUALCOMM by 2.6% in the first quarter. Primecap Management Co. CA now owns 24,633,445 shares of the wireless technology company’s stock worth $1,404,845,000 after acquiring an additional 633,123 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in QUALCOMM by 0.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 20,156,306 shares of the wireless technology company’s stock worth $1,147,095,000 after acquiring an additional 96,527 shares during the period. Finally, Loomis Sayles & Co. L P lifted its stake in QUALCOMM by 0.9% in the first quarter. Loomis Sayles & Co. L P now owns 16,927,414 shares of the wireless technology company’s stock worth $965,370,000 after acquiring an additional 150,914 shares during the period. 82.04% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently weighed in on QCOM. Canaccord Genuity upped their price objective on shares of QUALCOMM from $89.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. Deutsche Bank reiterated a “hold” rating on shares of QUALCOMM in a research report on Monday, April 29th. Bank of America reiterated a “neutral” rating and set a $90.00 price target (up from $71.00) on shares of QUALCOMM in a research report on Tuesday, April 30th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $84.00 price target on shares of QUALCOMM in a research report on Thursday, May 2nd. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM has a consensus rating of “Buy” and an average target price of $83.09.

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About QUALCOMM

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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