QUALCOMM (NASDAQ:QCOM) Shares Down 1.3% After Insider Selling

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price fell 1.3% during mid-day trading on Monday following insider selling activity. The company traded as low as $151.39 and last traded at $157.18. 4,340,806 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 9,396,522 shares. The stock had previously closed at $159.31.

Specifically, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders sold a total of 43,129 shares of company stock valued at $8,014,436 over the last three months. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on QCOM shares. Wells Fargo & Company increased their price target on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday. Canaccord Genuity Group raised their target price on shares of QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Susquehanna raised their target price on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Finally, Robert W. Baird raised their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $210.63.

QUALCOMM Stock Down 0.9 %

The company has a market capitalization of $175.96 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 1.99 and a beta of 1.27. The firm’s 50-day simple moving average is $200.91 and its 200 day simple moving average is $178.59. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.98 and a current ratio of 2.39.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.15%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in QCOM. Peoples Bank OH purchased a new stake in shares of QUALCOMM during the 4th quarter worth about $219,000. NewEdge Wealth LLC grew its holdings in shares of QUALCOMM by 120.2% during the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after purchasing an additional 11,285 shares during the period. Alexander Randolph Advisory Inc. purchased a new stake in shares of QUALCOMM during the 4th quarter worth about $305,000. City Holding Co. grew its holdings in shares of QUALCOMM by 3.5% during the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock worth $996,000 after purchasing an additional 199 shares during the period. Finally, Bard Financial Services Inc. boosted its holdings in QUALCOMM by 0.4% in the 4th quarter. Bard Financial Services Inc. now owns 34,790 shares of the wireless technology company’s stock worth $5,032,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.