QUALCOMM (NASDAQ:QCOM) Trading Down 0.6%

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) dropped 0.6% during trading on Thursday . The company traded as low as $159.86 and last traded at $163.29. Approximately 2,418,555 shares traded hands during trading, a decline of 72% from the average daily volume of 8,522,895 shares. The stock had previously closed at $164.32.

Analyst Ratings Changes

QCOM has been the topic of a number of analyst reports. Mizuho lifted their target price on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Cantor Fitzgerald lifted their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. KeyCorp lifted their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Barclays lifted their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $156.90.

QUALCOMM Stock Down 2.0 %

The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The company has a market cap of $179.80 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 2.30 and a beta of 1.41. The firm’s fifty day simple moving average is $164.47 and its 200 day simple moving average is $142.20.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results 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. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. Sell-side analysts predict that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.11%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is 46.38%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the sale, the chief executive officer now owns 32,400 shares in the company, valued at approximately $4,843,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 44,360 shares of company stock worth $7,184,678 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Several institutional investors and hedge funds have recently bought and sold shares of the business. Claro Advisors LLC raised its position in QUALCOMM by 22.5% in the 1st quarter. Claro Advisors LLC now owns 5,735 shares of the wireless technology company’s stock valued at $971,000 after purchasing an additional 1,054 shares during the last quarter. Miracle Mile Advisors LLC raised its position in QUALCOMM by 0.6% in the 1st quarter. Miracle Mile Advisors LLC now owns 14,755 shares of the wireless technology company’s stock valued at $2,498,000 after purchasing an additional 81 shares during the last quarter. Hubbell Strickland Wealth Management LLC purchased a new stake in QUALCOMM in the 1st quarter valued at $216,000. Kowal Investment Group LLC raised its position in QUALCOMM by 30.4% in the 1st quarter. Kowal Investment Group LLC now owns 3,807 shares of the wireless technology company’s stock valued at $645,000 after purchasing an additional 888 shares during the last quarter. Finally, BKM Wealth Management LLC increased its stake in QUALCOMM by 28.3% in the 1st quarter. BKM Wealth Management LLC now owns 512 shares of the wireless technology company’s stock valued at $87,000 after buying an additional 113 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

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.