QUALCOMM's General Counsel Ann C. Chaplin Sells Shares

QUALCOMM Incorporated (NASDAQ:QCOM) has seen a notable transaction involving its General Counsel, Ann C. Chaplin, who sold 7,717 shares of the company’s stock on Tuesday, December 10th. The shares were sold at an average price of $160.59 each, bringing the total value of the transaction to $1,239,273.03. After this sale, Chaplin now holds 17,153 shares in the wireless technology firm, valued at around $2,754,600.27. This sale represents a significant 31.03% reduction in her ownership of the stock. Details of this transaction were filed with the Securities and Exchange Commission (SEC), accessible through their official portal.

Market Performance of QUALCOMM

On Wednesday, QUALCOMM's stock experienced a slight increase, trading up by $3.37 to reach $159.83 during mid-day trading. The company's trading volume for the day was recorded at 7,079,337 shares, just below its average of 8,973,366 shares. Over the recent days, QUALCOMM has shown a 50-day moving average of $165.56 and a 200-day moving average of $178.65. Currently, QUALCOMM holds a market capitalization of $177.57 billion, a PE ratio of 17.69, and a price-to-earnings-growth ratio of 2.67, with a beta of 1.25. The stock has seen a 12-month low of $134.94 and a high of $230.63, indicating some volatility in its price range.

Dividend Announcement

QUALCOMM also announced a quarterly dividend, scheduled for payment on Thursday, December 19th. Shareholders of record from Thursday, December 5th will receive a dividend of $0.85 per share, translating to an annualized dividend of $3.40 with a yield of 2.13%. The ex-dividend date has been set for December 5th. Currently, QUALCOMM's dividend payout ratio stands at 37.82%, reflecting the firm’s commitment to returning value to its shareholders.

Institutional Activity

Recent weeks have shown increased activity from institutional investors regarding QUALCOMM stocks. Several funds have adjusted their positions; for instance, Macroview Investment Management LLC raised its stake by 10.5% during the second quarter, now owning 600 shares valued at $119,000. Similarly, McClarren Financial Advisors Inc. increased its holdings by 43.2%, acquiring 199 shares worth $40,000. Other significant changes include Paulson Wealth Management, Tranquility Partners LLC, and Institute for Wealth Management, each increasing their shareholdings. As it stands, institutional investors own approximately 74.35% of QUALCOMM's stock, indicating substantial institutional confidence in the company.

Analyst Ratings Overview

The stock has caught the attention of various analysts, with some upgrades and downgrades occurring recently. TD Cowen gave QUALCOMM a “strong-buy” rating on September 16th, while other firms have adjusted their target prices. Morgan Stanley reduced their target from $207.00 to $204.00, maintaining an “equal weight” rating. Analysts at StockNews.com lowered their rating from “strong-buy” to “buy” in early October. Benchmark maintained a “buy” rating and set a target price at $240.00. Overall, there are mixed sentiments with one sell rating, fourteen hold ratings, fifteen buy ratings, and one strong buy rating, resulting in an average rating of “Moderate Buy” from analysts, who project an average target price of about $208.00.

QUALCOMM Company Profile

QUALCOMM Incorporated focuses on developing and promoting foundational technologies for the wireless industry. The company operates through three core segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). The QCT segment mainly involves developing integrated circuits and system software based on wireless communication technologies, serving various applications from networking to multimedia and location-based services.

QUALCOMM, Shares, Sale