QUALCOMM (NASDAQ:QCOM) Trading Down 0.7%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price fell 0.7% on Monday . The stock traded as low as $213.45 and last traded at $213.78. 2,000,130 shares were traded during mid-day trading, a decline of 77% from the average session volume of 8,814,858 shares. The stock had previously closed at $215.33.

Analyst Ratings Changes

Several brokerages recently weighed in on QCOM. Wolfe Research boosted their price objective on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Piper Sandler boosted their price objective on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Barclays boosted their price objective on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Argus boosted their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price objective on shares of QUALCOMM in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $188.74.

QUALCOMM Stock Performance

The firm’s fifty day moving average price is $189.61 and its 200 day moving average price is $165.57. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $253.43 billion, a PE ratio of 30.52, a PEG ratio of 2.71 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. On average, research analysts anticipate that QUALCOMM Incorporated will post 7.83 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.50%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Buying and Selling

In related news, Director Sylvia Acevedo sold 744 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at $9,802.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, Director Sylvia Acevedo sold 744 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at $9,802.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now directly owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,185 shares of company stock worth $8,206,875. Corporate insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in QCOM. Norges Bank acquired a new position in QUALCOMM in the fourth quarter worth about $2,507,978,000. Matrix Capital Management Company LP bought a new stake in QUALCOMM during the first quarter worth about $1,171,516,000. International Assets Investment Management LLC grew its stake in shares of QUALCOMM by 12,998.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of QUALCOMM by 1,543.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares during the last quarter. Institutional investors and hedge funds 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.