QUALCOMM, Inc. (NASDAQ:QCOM) EVP Alexander H. Rogers sold 853 shares of the firm’s stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $63.50, for a total transaction of $54,165.50. Following the completion of the sale, the executive vice president now owns 4,344 shares of the company’s stock, valued at approximately $275,844. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Alexander H. Rogers also recently made the following trade(s):
- On Monday, August 27th, Alexander H. Rogers sold 1,306 shares of QUALCOMM stock. The shares were sold at an average price of $67.37, for a total transaction of $87,985.22.
Shares of NASDAQ QCOM opened at $63.71 on Friday. The company has a market cap of $92.82 billion, a P/E ratio of 16.85, a PEG ratio of 2.07 and a beta of 1.67. The company has a quick ratio of 2.62, a current ratio of 2.73 and a debt-to-equity ratio of 0.67. QUALCOMM, Inc. has a 52-week low of $48.56 and a 52-week high of $76.50.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, December 6th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Wednesday, December 5th. QUALCOMM’s dividend payout ratio is currently 65.61%.
QUALCOMM declared that its Board of Directors has initiated a share buyback plan on Thursday, July 26th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the wireless technology company to reacquire up to 34.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
Several research firms have weighed in on QCOM. Deutsche Bank raised their price objective on shares of QUALCOMM to $70.00 and gave the company a “hold” rating in a research report on Wednesday, September 19th. KeyCorp initiated coverage on shares of QUALCOMM in a research report on Tuesday, September 25th. They set a “sector weight” rating for the company. BidaskClub upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Tuesday, September 18th. Canaccord Genuity lowered their price target on shares of QUALCOMM from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Tuesday, September 25th. Finally, Tigress Financial reiterated a “buy” rating on shares of QUALCOMM in a research report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $71.07.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Telemus Capital LLC grew its holdings in QUALCOMM by 8.7% during the second quarter. Telemus Capital LLC now owns 9,860 shares of the wireless technology company’s stock valued at $553,000 after purchasing an additional 787 shares during the period. Ascension Asset Management LLC grew its holdings in QUALCOMM by 3.2% during the second quarter. Ascension Asset Management LLC now owns 25,542 shares of the wireless technology company’s stock valued at $1,433,000 after purchasing an additional 800 shares during the period. Accurate Investment Solutions Inc. grew its holdings in QUALCOMM by 1.3% during the third quarter. Accurate Investment Solutions Inc. now owns 62,870 shares of the wireless technology company’s stock valued at $4,529,000 after purchasing an additional 804 shares during the period. KCM Investment Advisors LLC grew its holdings in QUALCOMM by 7.8% during the second quarter. KCM Investment Advisors LLC now owns 11,113 shares of the wireless technology company’s stock valued at $624,000 after purchasing an additional 808 shares during the period. Finally, Bradley Foster & Sargent Inc. CT grew its holdings in QUALCOMM by 2.9% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 29,757 shares of the wireless technology company’s stock valued at $1,670,000 after purchasing an additional 825 shares during the period. Hedge funds and other institutional investors own 77.33% of the company’s stock.
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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