Qualcomm Inc. (NASDAQ:QCOM) Director Raymond V. Dittamore sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $68.39, for a total value of $1,231,020.00. Following the completion of the transaction, the director now owns 5,813 shares in the company, valued at approximately $397,551.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Qualcomm Inc. (NASDAQ:QCOM) opened at 66.68 on Wednesday. Qualcomm Inc. has a 1-year low of $42.24 and a 1-year high of $70.40. The stock has a market cap of $98.26 billion, a PE ratio of 19.53 and a beta of 1.25. The company’s 50 day moving average is $63.25 and its 200-day moving average is $56.58.
Qualcomm (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.19. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The company earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. Qualcomm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Qualcomm Inc. will post $4.28 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 31st were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $2.12 dividend on an annualized basis and a yield of 3.18%. Qualcomm’s payout ratio is 62.17%.
A number of large investors have recently bought and sold shares of QCOM. Eqis Capital Management Inc. boosted its stake in Qualcomm by 3.6% in the third quarter. Eqis Capital Management Inc. now owns 82,879 shares of the wireless technology company’s stock worth $5,677,000 after buying an additional 2,881 shares during the last quarter. Park National Corp OH boosted its stake in Qualcomm by 1.0% in the third quarter. Park National Corp OH now owns 8,774 shares of the wireless technology company’s stock worth $601,000 after buying an additional 85 shares during the last quarter. Cullinan Associates Inc. boosted its stake in Qualcomm by 2.5% in the third quarter. Cullinan Associates Inc. now owns 38,993 shares of the wireless technology company’s stock worth $2,671,000 after buying an additional 943 shares during the last quarter. Williams Jones & Associates LLC boosted its stake in Qualcomm by 2.1% in the second quarter. Williams Jones & Associates LLC now owns 18,110 shares of the wireless technology company’s stock worth $970,000 after buying an additional 375 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Qualcomm during the second quarter worth approximately $3,177,000. 78.05% of the stock is owned by institutional investors.
Several research firms have issued reports on QCOM. RBC Capital Markets restated a “sector perform” rating and set a $70.00 target price (up previously from $59.00) on shares of Qualcomm in a research report on Monday. JPMorgan Chase & Co. restated an “overweight” rating and set a $70.00 target price (up previously from $63.00) on shares of Qualcomm in a research report on Monday. Royal Bank Of Canada increased their target price on Qualcomm from $59.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Monday. Vetr downgraded Qualcomm from a “buy” rating to a “hold” rating and set a $71.00 target price on the stock. in a research report on Monday. Finally, BMO Capital Markets restated an “underperform” rating and set a $53.00 target price on shares of Qualcomm in a research report on Sunday. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Qualcomm has a consensus rating of “Buy” and a consensus price target of $63.98.
Qualcomm Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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