QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.6%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price dropped 0.6% on Thursday . The stock traded as low as $159.86 and last traded at $163.29. Approximately 2,418,555 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 8,522,895 shares. The stock had previously closed at $164.32.

Analysts Set New Price Targets

Several research firms have commented on QCOM. Evercore ISI began coverage on shares of QUALCOMM in a report on Tuesday. They set an “in-line” rating and a $177.00 price objective for the company. Susquehanna boosted their price objective on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. KeyCorp increased their price target on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, TD Cowen raised their price target on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.90.

QUALCOMM Price Performance

The firm has a market cap of $175.92 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41. 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 $164.87 and a two-hundred day moving average price of $142.66.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results 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. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. As a group, equities analysts expect that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 2.16%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is currently 46.38%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock worth $5,973,728 over the last quarter. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in QCOM. Maryland State Retirement & Pension System raised its stake in QUALCOMM by 0.7% in the 1st quarter. Maryland State Retirement & Pension System now owns 87,499 shares of the wireless technology company’s stock valued at $14,397,000 after purchasing an additional 642 shares during the last quarter. Mezzasalma Advisors LLC acquired a new position in QUALCOMM in the 1st quarter valued at $222,000. FORVIS Wealth Advisors LLC raised its stake in QUALCOMM by 7.4% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 2,883 shares of the wireless technology company’s stock valued at $488,000 after purchasing an additional 199 shares during the last quarter. Everett Harris & Co. CA raised its stake in QUALCOMM by 0.7% in the 1st quarter. Everett Harris & Co. CA now owns 34,744 shares of the wireless technology company’s stock valued at $5,882,000 after purchasing an additional 252 shares during the last quarter. Finally, Veracity Capital LLC raised its stake in QUALCOMM by 9.0% in the 1st quarter. Veracity Capital LLC now owns 2,834 shares of the wireless technology company’s stock valued at $480,000 after purchasing an additional 234 shares during the last quarter. 74.35% of the stock is 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.