QUALCOMM (NASDAQ:QCOM) Shares Down 0.4%

QUALCOMM Incorporated (NASDAQ:QCOM) dropped 0.4% on Wednesday . The stock traded as low as $163.86 and last traded at $165.12. Approximately 2,159,731 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 8,402,836 shares. The stock had previously closed at $165.85.

Wall Street Analyst Weigh In

QCOM has been the subject of several research analyst reports. TD Cowen increased their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Rosenblatt Securities raised their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Morgan Stanley lifted their price target on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday. Benchmark restated a “buy” rating and issued a $200.00 price objective on shares of QUALCOMM in a research note on Friday. Finally, UBS Group upped their target price on QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.36.

QUALCOMM Price Performance

The firm has a market capitalization of $200.48 billion, a PE ratio of 26.03, a PEG ratio of 2.25 and a beta of 1.33. 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 50-day moving average price of $167.20 and a 200 day moving average price of $146.11.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 38.24%. Equities analysts forecast that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is 49.28%.

Insider Buying and Selling

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the transaction, the chief executive officer now owns 24,300 shares of the company’s stock, valued at $3,875,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,260 shares of company stock worth $7,429,728. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Embree Financial Group acquired a new stake in shares of QUALCOMM in the first quarter valued at approximately $214,000. Catalina Capital Group LLC acquired a new stake in shares of QUALCOMM in the 1st quarter worth $658,000. Avidian Wealth Solutions LLC raised its holdings in shares of QUALCOMM by 4.9% during the 1st quarter. Avidian Wealth Solutions LLC now owns 5,362 shares of the wireless technology company’s stock worth $908,000 after acquiring an additional 250 shares during the period. Mediolanum International Funds Ltd acquired a new position in shares of QUALCOMM during the 1st quarter valued at about $32,297,000. Finally, Larson Financial Group LLC grew its holdings in shares of QUALCOMM by 12.3% in the first quarter. Larson Financial Group LLC now owns 6,206 shares of the wireless technology company’s stock valued at $1,051,000 after purchasing an additional 678 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.