QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.9%

QUALCOMM Incorporated (NASDAQ:QCOM) shares were down 0.9% during mid-day trading on Thursday . The stock traded as low as $162.03 and last traded at $162.13. Approximately 1,225,049 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 8,476,215 shares. The stock had previously closed at $163.63.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on QCOM shares. Canaccord Genuity Group lifted their price objective on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Rosenblatt Securities lifted their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Susquehanna lifted their price objective on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. Benchmark began coverage on QUALCOMM in a research report on Tuesday. They set a “buy” rating and a $200.00 target price on the stock. Finally, Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $158.86.

QUALCOMM Stock Performance

The firm has a market cap of $182.24 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 2.21 and a beta of 1.41. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average price of $165.43 and a 200-day moving average price of $143.97.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, analysts expect that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.08%. QUALCOMM’s payout ratio is 46.38%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the sale, the chief executive officer now owns 24,300 shares in the company, valued at $3,875,850. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock worth $5,973,728 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

Institutional Trading of QUALCOMM

A number of institutional investors have recently bought and sold shares of QCOM. Peoples Bank OH purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $219,000. HF Advisory Group LLC purchased a new stake in shares of QUALCOMM in the third quarter valued at $629,000. Bank Hapoalim BM lifted its position in shares of QUALCOMM by 35.0% in the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after acquiring an additional 9,192 shares in the last quarter. NewEdge Wealth LLC lifted its position in shares of QUALCOMM by 120.2% in the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after acquiring an additional 11,285 shares in the last quarter. Finally, Sather Financial Group Inc lifted its position in shares of QUALCOMM by 5.8% in the third quarter. Sather Financial Group Inc now owns 327,547 shares of the wireless technology company’s stock valued at $36,377,000 after acquiring an additional 18,090 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Company Profile

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.