Traders Sell Shares of QUALCOMM (QCOM) on Strength (QCOM)

Traders sold shares of QUALCOMM, Inc. (NASDAQ:QCOM) on strength during trading hours on Friday. $114.29 million flowed into the stock on the tick-up and $339.13 million flowed out of the stock on the tick-down, for a money net flow of $224.84 million out of the stock. Of all equities tracked, QUALCOMM had the 0th highest net out-flow for the day. QUALCOMM traded up $0.15 for the day and closed at $58.26

QCOM has been the topic of a number of recent research reports. Barclays initiated coverage on QUALCOMM in a research note on Thursday, September 13th. They issued an “overweight” rating and a $95.00 target price on the stock. Deutsche Bank lowered their target price on QUALCOMM to $65.00 and set a “hold” rating on the stock in a research note on Thursday, November 8th. Royal Bank of Canada boosted their target price on QUALCOMM to $77.00 and gave the company an “outperform” rating in a research note on Friday, September 7th. Nomura boosted their target price on QUALCOMM from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, September 4th. Finally, Bank of America lowered their target price on QUALCOMM from $70.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, November 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. QUALCOMM has an average rating of “Buy” and an average target price of $70.44.

The stock has a market capitalization of $70.62 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 1.44 and a beta of 1.69. The company has a debt-to-equity ratio of 16.56, a current ratio of 1.55 and a quick ratio of 1.40.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 7th. The wireless technology company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.20. QUALCOMM had a positive return on equity of 26.21% and a negative net margin of 21.40%. The company had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, equities research analysts predict that QUALCOMM, Inc. will post 3.53 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, December 6th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $2.48 annualized dividend and a dividend yield of 4.26%. QUALCOMM’s dividend payout ratio is presently 77.74%.

In related news, EVP Alexander H. Rogers sold 853 shares of the business’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $63.50, for a total transaction of $54,165.50. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cristiano R. Amon sold 88,625 shares of the business’s stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $68.81, for a total value of $6,098,286.25. Following the transaction, the president now directly owns 58,045 shares of the company’s stock, valued at approximately $3,994,076.45. The disclosure for this sale can be found here. Insiders have sold a total of 96,629 shares of company stock valued at $6,561,814 in the last three months. 0.17% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in shares of QUALCOMM by 13.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 20,853,688 shares of the wireless technology company’s stock worth $1,170,308,000 after purchasing an additional 2,463,511 shares during the last quarter. Morgan Stanley lifted its position in shares of QUALCOMM by 163.2% during the 3rd quarter. Morgan Stanley now owns 18,891,278 shares of the wireless technology company’s stock worth $1,360,740,000 after purchasing an additional 11,713,988 shares during the last quarter. Capital World Investors lifted its position in shares of QUALCOMM by 33.5% during the 3rd quarter. Capital World Investors now owns 18,580,637 shares of the wireless technology company’s stock worth $1,338,363,000 after purchasing an additional 4,662,437 shares during the last quarter. Parnassus Investments CA lifted its position in shares of QUALCOMM by 3.6% during the 2nd quarter. Parnassus Investments CA now owns 10,150,000 shares of the wireless technology company’s stock worth $569,618,000 after purchasing an additional 350,000 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of QUALCOMM by 3.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 9,687,604 shares of the wireless technology company’s stock worth $543,669,000 after purchasing an additional 323,005 shares during the last quarter. 89.45% of the stock is owned by institutional investors and hedge funds.

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QUALCOMM Company Profile (NASDAQ:QCOM)

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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