QUALCOMM, Inc. (NASDAQ:QCOM) EVP Alexander H. Rogers sold 789 shares of the stock in a transaction on Wednesday, June 27th. The shares were sold at an average price of $56.55, for a total value of $44,617.95. Following the completion of the sale, the executive vice president now owns 7,998 shares in the company, valued at approximately $452,286.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
QUALCOMM opened at $56.12 on Friday, Marketbeat.com reports. The company has a current ratio of 3.60, a quick ratio of 3.46 and a debt-to-equity ratio of 0.81. The firm has a market cap of $82.89 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 1.80 and a beta of 1.50. QUALCOMM, Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $69.28.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 25th. The wireless technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.10. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.21 billion. QUALCOMM had a positive return on equity of 16.48% and a negative net margin of 20.16%. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.34 EPS. equities analysts expect that QUALCOMM, Inc. will post 2.71 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 20th. Shareholders of record on Wednesday, May 30th were given a dividend of $0.62 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.57. The ex-dividend date was Tuesday, May 29th. This represents a $2.48 annualized dividend and a yield of 4.42%. QUALCOMM’s dividend payout ratio (DPR) is presently 65.61%.
QUALCOMM declared that its board has authorized a stock repurchase program on Wednesday, May 9th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the wireless technology company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Hedge funds have recently bought and sold shares of the business. First Commonwealth Financial Corp PA increased its position in shares of QUALCOMM by 6.6% in the fourth quarter. First Commonwealth Financial Corp PA now owns 13,353 shares of the wireless technology company’s stock worth $855,000 after purchasing an additional 822 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in shares of QUALCOMM by 1.8% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 47,706 shares of the wireless technology company’s stock worth $3,055,000 after purchasing an additional 840 shares during the period. Glenview Trust Co increased its position in shares of QUALCOMM by 8.3% in the first quarter. Glenview Trust Co now owns 12,083 shares of the wireless technology company’s stock worth $669,000 after purchasing an additional 921 shares during the period. Penserra Capital Management LLC increased its position in shares of QUALCOMM by 24.1% in the first quarter. Penserra Capital Management LLC now owns 4,864 shares of the wireless technology company’s stock worth $269,000 after purchasing an additional 944 shares during the period. Finally, Intrust Bank NA increased its position in shares of QUALCOMM by 19.4% in the fourth quarter. Intrust Bank NA now owns 5,868 shares of the wireless technology company’s stock worth $376,000 after purchasing an additional 953 shares during the period. Hedge funds and other institutional investors own 76.91% of the company’s stock.
A number of equities research analysts recently weighed in on the company. BidaskClub cut QUALCOMM from a “hold” rating to a “sell” rating in a research note on Thursday. ValuEngine cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, April 23rd. Cowen assumed coverage on QUALCOMM in a research note on Thursday, May 17th. They issued a “market perform” rating and a $58.00 price target on the stock. UBS Group dropped their price target on QUALCOMM from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, April 26th. Finally, Stifel Nicolaus dropped their price target on QUALCOMM from $56.00 to $54.00 and set a “hold” rating on the stock in a research note on Thursday, April 26th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $63.50.
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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