QUALCOMM (NASDAQ:QCOM) Trading Up 2.9%

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price rose 2.9% on Friday . The company traded as high as $174.62 and last traded at $173.88. Approximately 1,276,131 shares traded hands during trading, a decline of 86% from the average daily volume of 9,274,623 shares. The stock had previously closed at $169.00.

Analyst Ratings Changes

QCOM has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. HSBC cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a report on Wednesday, July 17th. Morgan Stanley increased their price objective on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Citigroup increased their price objective on shares of QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Finally, Tigress Financial increased their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.63.

QUALCOMM Stock Performance

The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $188.22 and its two-hundred day moving average price is $180.36. The company has a market cap of $193.63 billion, a P/E ratio of 23.32, a price-to-earnings-growth ratio of 1.89 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. As a group, equities analysts forecast that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 1.96%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $3,496,590 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

Institutional Trading of QUALCOMM

Several institutional investors have recently made changes to their positions in the stock. 3Chopt Investment Partners LLC acquired a new stake in shares of QUALCOMM during the second quarter worth approximately $2,134,000. Ted Buchan & Co acquired a new stake in shares of QUALCOMM during the second quarter worth approximately $263,000. Advisory Alpha LLC boosted its holdings in shares of QUALCOMM by 33.3% during the second quarter. Advisory Alpha LLC now owns 2,499 shares of the wireless technology company’s stock worth $498,000 after purchasing an additional 624 shares during the period. HWG Holdings LP acquired a new stake in shares of QUALCOMM during the second quarter worth approximately $30,000. Finally, Hershey Financial Advisers LLC acquired a new stake in shares of QUALCOMM during the second quarter worth approximately $42,000. 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.