QUALCOMM (NASDAQ:QCOM) Trading Down 0.3%

QUALCOMM Incorporated (NASDAQ:QCOM) shares were down 0.3% on Thursday . The company traded as low as $167.98 and last traded at $168.56. Approximately 892,991 shares changed hands during trading, a decline of 90% from the average daily volume of 8,931,784 shares. The stock had previously closed at $169.13.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Rosenblatt Securities boosted their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a report on Monday, March 4th. Morgan Stanley downgraded shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $119.00 to $132.00 in a research note on Friday, December 8th. Finally, KeyCorp boosted their target price on shares of QUALCOMM from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $148.71.

QUALCOMM Stock Up 0.1 %

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The business has a 50-day simple moving average of $157.64 and a two-hundred day simple moving average of $135.88. The company has a market capitalization of $188.94 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 2.28 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, equities analysts predict that QUALCOMM Incorporated will post 7.67 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Wednesday, February 28th. QUALCOMM’s payout ratio is currently 46.38%.

Insiders Place Their Bets

In related news, insider James J. Cathey sold 1,000 shares of the stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the transaction, the insider now directly owns 4,972 shares in the company, valued at $691,108. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the sale, the insider now directly owns 4,972 shares in the company, valued at approximately $691,108. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $149.50, for a total value of $1,210,950.00. Following the sale, the chief executive officer now owns 32,400 shares of the company’s stock, valued at $4,843,800. The disclosure for this sale can be found here. Insiders have sold a total of 34,360 shares of company stock valued at $5,457,048 in the last quarter. 0.08% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DHJJ Financial Advisors Ltd. acquired a new stake in QUALCOMM during the 3rd quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. increased its stake in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares during the last quarter. Milestone Investment Advisors LLC acquired a new stake in QUALCOMM in the first quarter valued at $26,000. Pacifica Partners Inc. boosted its stake in QUALCOMM by 150.0% during the 3rd quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company’s stock valued at $27,000 after acquiring an additional 150 shares during the last quarter. Finally, O Dell Group LLC acquired a new position in QUALCOMM during the 4th quarter worth $28,000. 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.