QUALCOMM (NASDAQ:QCOM) Trading Down 0.3%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price dropped 0.3% during mid-day trading on Thursday . The stock traded as low as $167.98 and last traded at $168.56. Approximately 892,991 shares changed hands during trading, a decline of 90% from the average daily volume of 8,931,784 shares. The stock had previously closed at $169.13.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on QCOM. Rosenblatt Securities upped their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research report on Thursday, February 1st. Mizuho boosted their target price on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Finally, Morgan Stanley lowered shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $119.00 to $132.00 in a report on Friday, December 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $148.71.

QUALCOMM Price Performance

The company has a market cap of $188.94 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 2.28 and a beta of 1.41. The business has a 50 day moving average of $157.64 and a 200 day moving average of $135.88. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, research analysts predict that QUALCOMM Incorporated will post 7.67 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were given a $0.80 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio is currently 46.38%.

Insiders Place Their Bets

In related news, insider James J. Cathey sold 1,000 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the sale, the insider now directly owns 4,972 shares of the company’s stock, valued at $691,108. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the sale, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at $4,843,800. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James J. Cathey sold 1,000 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the sale, the insider now owns 4,972 shares of the company’s stock, valued at approximately $691,108. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,360 shares of company stock valued at $5,457,048. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Several institutional investors and hedge funds have recently modified their holdings of QCOM. Cassaday & Co Wealth Management LLC grew its holdings in shares of QUALCOMM by 1.2% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock valued at $831,000 after purchasing an additional 66 shares in the last quarter. Glass Jacobson Investment Advisors llc boosted its stake in QUALCOMM by 6.5% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after buying an additional 68 shares during the period. Chilton Capital Management LLC grew its stake in shares of QUALCOMM by 1.9% during the fourth quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock valued at $544,000 after buying an additional 70 shares during the last quarter. Means Investment CO. Inc. raised its holdings in shares of QUALCOMM by 1.2% in the fourth quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock worth $838,000 after buying an additional 71 shares during the period. Finally, Mission Creek Capital Partners Inc. lifted its stake in shares of QUALCOMM by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 21,728 shares of the wireless technology company’s stock worth $3,142,000 after acquiring an additional 72 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

About QUALCOMM

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.