QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
QUALCOMM Stock Performance
NASDAQ:QCOM opened at $169.76 on Friday. The firm has a market capitalization of $189.45 billion, a PE ratio of 24.60, a PEG ratio of 2.38 and a beta of 1.41. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The firm's fifty day simple moving average is $159.89 and its 200 day simple moving average is $138.15.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.67 EPS for the current year.
Institutional Inflows and Outflows
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Several institutional investors have recently added to or reduced their stakes in QCOM. DHJJ Financial Advisors Ltd. acquired a new stake in shares of QUALCOMM in the third quarter worth $26,000. Financial Gravity Asset Management Inc. boosted its holdings in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 122 shares during the period. Milestone Investment Advisors LLC acquired a new stake in QUALCOMM in the 1st quarter worth $26,000. Pacifica Partners Inc. increased its holdings in shares of QUALCOMM by 150.0% during the 3rd quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company's stock worth $27,000 after purchasing an additional 150 shares during the period. Finally, O Dell Group LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at about $28,000. 74.35% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of QUALCOMM from $173.00 to $170.00 and set an "overweight" rating on the stock in a report on Thursday, February 1st. KeyCorp upped their target price on QUALCOMM from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Thursday, February 1st. TD Cowen raised their price target on QUALCOMM from $160.00 to $170.00 and gave the stock an "outperform" rating in a research note on Thursday, February 1st. Canaccord Genuity Group boosted their price target on QUALCOMM from $152.00 to $175.00 and gave the company a "buy" rating in a research note on Friday, January 19th. Finally, Piper Sandler raised their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of "Moderate Buy" and an average target price of $148.71.
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QUALCOMM Company Profile
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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.
Further Reading
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