Qualcomm (NASDAQ:QCOM) EVP Sells 1,501 Shares of Company Stock

Qualcomm Incorporated (NASDAQ:QCOM) EVP Ann Chaplin sold 1,501 shares of Qualcomm stock in a transaction on Friday, November 6th. The stock was sold at an average price of $161.54, for a total value of $242,471.54. Following the sale, the executive vice president owned 27,271 shares of the company’s stock, valued at approximately $4,405,357.34. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Qualcomm Stock Up 5.5%

Shares of Qualcomm stock traded up $8.66 during trading on Friday, hitting $165.41. 19,673,504 shares of the stock traded hands, compared to its average volume of 15,203,176. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. The firm has a market cap of $176.63 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 3.90 and a beta of 1.70. The stock’s fifty day simple moving average is $178.09 and its 200 day simple moving average is $169.47. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92.

Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. The firm had revenue of $10.44 billion during the quarter, compared to analysts’ expectations of $10.12 billion. Qualcomm had a return on equity of 31.91% and a net margin of 31.60%. During the same period in the prior year, the business posted $3.00 EPS. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. On average, equities analysts predict that Qualcomm Incorporated will post 7.17 earnings per share for the current fiscal year.

Qualcomm Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 2.2%. Qualcomm’s dividend payout ratio (DPR) is currently 28.98%.

Institutional Trading of Qualcomm

A number of large investors have recently made changes to their positions in QCOM. BlackRock Inc. acquired a new stake in shares of Qualcomm during the second quarter worth $17,583,115,000. State Street Corp grew its holdings in shares of Qualcomm by 1.3% in the 2nd quarter. State Street Corp now owns 52,763,263 shares of the wireless technology company’s stock worth $9,750,123,000 after acquiring an additional 671,537 shares during the period. Van ECK Associates Corp raised its stake in shares of Qualcomm by 22.7% during the 2nd quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company’s stock worth $3,178,872,000 after buying an additional 3,179,720 shares during the last quarter. Amundi grew its position in shares of Qualcomm by 94.1% in the second quarter. Amundi now owns 10,195,741 shares of the wireless technology company’s stock valued at $1,884,071,000 after purchasing an additional 4,942,908 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Qualcomm during the second quarter worth $1,523,930,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on QCOM shares. Wells Fargo & Company dropped their price objective on shares of Qualcomm from $265.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Qualcomm in a research report on Monday, September 21st. Zacks Research lowered Qualcomm from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 15th. Susquehanna reduced their price target on shares of Qualcomm from $185.00 to $165.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Barclays dropped their price target on shares of Qualcomm from $180.00 to $150.00 and set an “underweight” rating for the company in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-one have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $197.55.

Qualcomm News Roundup

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm’s fiscal Q4 adjusted EPS of $2.17 and revenue of $10.44 billion edged past consensus estimates. Automotive growth and the company’s data-center ambitions offer potential to diversify beyond mobile chips. Article: Is Qualcomm Stock Worth Buying After Mixed Q4 Results?
• Positive Sentiment: Alphabet disclosed a $548 million Qualcomm stake, a potentially supportive signal of institutional interest. Article: Alphabet discloses $548 million worth of Qualcomm stake
• Positive Sentiment: The shares’ recovery also comes as markets claw back some of Thursday’s broad technology selloff, which was driven partly by concerns that post-election data-center regulation could slow AI investment. Article: OpenAI, Arm and Qualcomm executives react to post-midterm AI sell-off
• Neutral Sentiment: Qualcomm’s SpaceX agreement to supply technology for a planned terrestrial 5G network adds a potential new customer and use case, though its financial contribution is not yet clear. Article: SpaceX Makes Its Biggest Move Yet Against Telecom Giants With Qualcomm 5G Deal
• Negative Sentiment: Despite the earnings beat, revenue and EPS were down year over year, and investors remain concerned about soft guidance, falling handset demand, Apple’s shift toward in-house modems and rising component costs pressuring margins. Article: Qualcomm Beat Earnings, But Its Fastest-Growing Businesses Have a Catch
• Negative Sentiment: Analyst caution may limit the recovery: Susquehanna cut its target to $165 and maintained a neutral rating, while a Seeking Alpha contributor downgraded QCOM from Strong Buy to Hold, citing few near-term catalysts and macro risks. Article: Qualcomm: Right Tech, Wrong Market Timing – Moving To The Sidelines

About Qualcomm

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications.

Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.