Stock Traders Purchase High Volume of Call Options on QUALCOMM (NASDAQ:QCOM)

QUALCOMM Incorporated (NASDAQ:QCOM) was the target of unusually large options trading activity on Monday. Stock investors purchased 29,356 call options on the stock. This is an increase of 153% compared to the typical volume of 11,609 call options.

Several research analysts have recently weighed in on QCOM shares. UBS AG reissued a “neutral” rating and set a $58.00 price objective on shares of QUALCOMM in a report on Tuesday, May 2nd. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday. Northland Securities cut shares of QUALCOMM from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $75.00 to $62.50 in a report on Wednesday, June 28th. BidaskClub cut shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of QUALCOMM in a report on Tuesday, July 25th. Two investment 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 stock. The stock currently has an average rating of “Hold” and an average target price of $63.96.

Shares of QUALCOMM (QCOM) opened at 52.72 on Friday. The company’s 50-day moving average is $54.47 and its 200-day moving average is $55.60. The stock has a market cap of $77.82 billion, a P/E ratio of 20.19 and a beta of 1.29. QUALCOMM has a 1-year low of $51.05 and a 1-year high of $71.62.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.02. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The company had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter in the previous year, the company posted $1.16 EPS. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. Equities analysts expect that QUALCOMM will post $4.16 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 annualized dividend and a yield of 4.32%. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.

In other QUALCOMM news, EVP Michelle M. Sterling sold 5,509 shares of QUALCOMM stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $59.11, for a total value of $325,636.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Derek K. Aberle sold 23,104 shares of QUALCOMM stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the completion of the transaction, the president now directly owns 5,855 shares of the company’s stock, valued at $324,249.90. The disclosure for this sale can be found here. Insiders sold 52,101 shares of company stock valued at $2,955,612 over the last ninety days. Corporate insiders own 0.17% of the company’s stock.

Large investors have recently made changes to their positions in the company. Bancorpsouth Inc. boosted its stake in shares of QUALCOMM by 2.1% in the second quarter. Bancorpsouth Inc. now owns 38,854 shares of the wireless technology company’s stock valued at $2,145,000 after buying an additional 786 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of QUALCOMM by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 9,253,563 shares of the wireless technology company’s stock valued at $510,984,000 after buying an additional 60,101 shares during the period. Ropes Wealth Advisors LLC boosted its stake in shares of QUALCOMM by 62.9% in the second quarter. Ropes Wealth Advisors LLC now owns 9,035 shares of the wireless technology company’s stock valued at $499,000 after buying an additional 3,489 shares during the period. Baker Avenue Asset Management LP boosted its stake in shares of QUALCOMM by 6.3% in the second quarter. Baker Avenue Asset Management LP now owns 197,662 shares of the wireless technology company’s stock valued at $10,915,000 after buying an additional 11,766 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of QUALCOMM by 52.1% in the second quarter. Parametric Portfolio Associates LLC now owns 4,262,348 shares of the wireless technology company’s stock valued at $235,367,000 after buying an additional 1,460,152 shares during the period. 76.61% of the stock is currently owned by institutional investors.

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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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