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

Traders sold shares of QUALCOMM Incorporated (NASDAQ:QCOM) on strength during trading hours on Monday. $51.75 million flowed into the stock on the tick-up and $68.44 million flowed out of the stock on the tick-down, for a money net flow of $16.69 million out of the stock. Of all stocks tracked, QUALCOMM had the 30th highest net out-flow for the day. QUALCOMM traded up $0.39 for the day and closed at $52.88

Several brokerages have recently weighed in on QCOM. Northland Securities downgraded shares of QUALCOMM from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $75.00 to $62.50 in a research note on Wednesday, June 28th. BMO Capital Markets reiterated a “market perform” rating and set a $54.00 target price on shares of QUALCOMM in a research note on Monday, July 10th. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Rosenblatt Securities reiterated a “neutral” rating and set a $56.00 target price on shares of QUALCOMM in a research note on Friday, June 30th. Finally, Wells Fargo & Company reiterated an “outperform” rating on shares of QUALCOMM in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. QUALCOMM currently has a consensus rating of “Hold” and a consensus target price of $63.60.

The company has a market capitalization of $78.05 billion, a P/E ratio of 20.25 and a beta of 1.28. The stock’s 50 day moving average is $51.68 and its 200 day moving average is $54.47.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 EPS. Equities analysts predict that QUALCOMM Incorporated will post $4.16 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th were paid a $0.57 dividend. The ex-dividend date was Monday, August 28th. This represents a $2.28 annualized dividend and a yield of 4.31%. QUALCOMM’s dividend payout ratio is presently 87.36%.

In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 5,810 shares of company stock worth $301,596. Company insiders own 0.24% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Westwood Holdings Group Inc. acquired a new position in shares of QUALCOMM during the 2nd quarter worth $114,000. Krilogy Financial LLC increased its stake in shares of QUALCOMM by 47.0% during the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after purchasing an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. acquired a new position in shares of QUALCOMM during the 2nd quarter worth $141,000. Jacobi Capital Management LLC increased its stake in shares of QUALCOMM by 10.8% during the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after purchasing an additional 250 shares during the last quarter. Finally, Alpha Windward LLC increased its stake in shares of QUALCOMM by 6.1% during the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 76.92% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Traders S

Several brokerages have recently weighed in on QCOM. Northland Securities downgraded shares of QUALCOMM from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $75.00 to $62.50 in a research note on Wednesday, June 28th. BMO Capital Markets reiterated a “market perform” rating and set a $54.00 target price on shares of QUALCOMM in a research note on Monday, July 10th. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Rosenblatt Securities reiterated a “neutral” rating and set a $56.00 target price on shares of QUALCOMM in a research note on Friday, June 30th. Finally, Wells Fargo & Company reiterated an “outperform” rating on shares of QUALCOMM in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. QUALCOMM currently has a consensus rating of “Hold” and a consensus target price of $63.60.

The company has a market capitalization of $78.05 billion, a P/E ratio of 20.25 and a beta of 1.28. The stock’s 50 day moving average is $51.68 and its 200 day moving average is $54.47.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 EPS. Equities analysts predict that QUALCOMM Incorporated will post $4.16 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th were paid a $0.57 dividend. The ex-dividend date was Monday, August 28th. This represents a $2.28 annualized dividend and a yield of 4.31%. QUALCOMM’s dividend payout ratio is presently 87.36%.

In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 5,810 shares of company stock worth $301,596. Company insiders own 0.24% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Westwood Holdings Group Inc. acquired a new position in shares of QUALCOMM during the 2nd quarter worth $114,000. Krilogy Financial LLC increased its stake in shares of QUALCOMM by 47.0% during the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after purchasing an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. acquired a new position in shares of QUALCOMM during the 2nd quarter worth $141,000. Jacobi Capital Management LLC increased its stake in shares of QUALCOMM by 10.8% during the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after purchasing an additional 250 shares during the last quarter. Finally, Alpha Windward LLC increased its stake in shares of QUALCOMM by 6.1% during the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 76.92% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Traders Sell Shares of QUALCOMM Incorporated (QCOM) on Strength (QCOM)” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States and international trademark and copyright legislation. The original version of this story can be accessed at https://ledgergazette.com/2017/10/09/traders-sell-shares-of-qualcomm-incorporated-qcom-on-strength-qcom.html.

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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