QUALCOMM (NASDAQ:QCOM) Trading Down 3.9%

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price fell 3.9% on Thursday . The company traded as low as $216.92 and last traded at $218.13. 4,529,732 shares were traded during trading, a decline of 50% from the average session volume of 8,978,381 shares. The stock had previously closed at $227.09.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on QCOM. Benchmark reiterated a “buy” rating and set a $200.00 target price on shares of QUALCOMM in a research report on Friday, May 3rd. KeyCorp increased their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Evercore ISI initiated coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective for the company. Bank of America raised their price objective on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Citigroup raised their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

QUALCOMM Price Performance

The stock has a market capitalization of $237.18 billion, a PE ratio of 28.57, a P/E/G ratio of 2.62 and a beta of 1.30. The firm’s 50 day simple moving average is $192.36 and its 200 day simple moving average is $166.92. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.82 by $0.11. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. As a group, equities analysts forecast that QUALCOMM Incorporated will post 7.83 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.60%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insiders Place Their Bets

In other QUALCOMM news, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction that occurred on 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 $1,185,947.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Neil Smit sold 3,069 shares of the 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 completion of the sale, the director now directly owns 5,902 shares in the company, valued at $1,185,947.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the transaction, the chief technology officer now owns 261,893 shares in the company, valued at approximately $44,068,735.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,185 shares of company stock valued at $8,206,875. 0.08% of the stock is currently owned by corporate insiders.

Institutional Trading of QUALCOMM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QCOM. Acadian Asset Management LLC raised its stake in QUALCOMM by 13.2% in the third quarter. Acadian Asset Management LLC now owns 56,003 shares of the wireless technology company’s stock worth $6,216,000 after buying an additional 6,527 shares in the last quarter. Algert Global LLC bought a new position in shares of QUALCOMM in the 3rd quarter worth approximately $545,000. Syntax Advisors LLC lifted its stake in shares of QUALCOMM by 13.0% in the 3rd quarter. Syntax Advisors LLC now owns 2,065 shares of the wireless technology company’s stock valued at $229,000 after purchasing an additional 238 shares during the period. Personal CFO Solutions LLC boosted its position in shares of QUALCOMM by 7.0% during the third quarter. Personal CFO Solutions LLC now owns 6,884 shares of the wireless technology company’s stock valued at $765,000 after purchasing an additional 452 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in QUALCOMM by 4.3% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 32,130 shares of the wireless technology company’s stock worth $3,568,000 after purchasing an additional 1,310 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.