QUALCOMM (NASDAQ:QCOM) Shares Down 0.9%

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) fell 0.9% on Thursday . The stock traded as low as $162.03 and last traded at $162.13. 1,225,049 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 8,476,215 shares. The stock had previously closed at $163.63.

Analyst Ratings Changes

Several research firms recently weighed in on QCOM. Cantor Fitzgerald upped their price objective on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Benchmark began coverage on shares of QUALCOMM in a research report on Tuesday. They issued a “buy” rating and a $200.00 price objective on the stock. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research report on Thursday, February 1st. Piper Sandler upped their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Finally, Rosenblatt Securities upped their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $158.86.

QUALCOMM Stock Performance

The stock has a market cap of $184.88 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The business has a 50 day moving average price of $165.84 and a two-hundred day moving average price of $144.47.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results 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. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 2.05%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

Insider Activity

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

Institutional Investors Weigh In On QUALCOMM

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Gravity Asset Management Inc. grew its stake in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the period. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the 1st quarter valued at approximately $27,000. Legacy Financial Group LLC bought a new position in shares of QUALCOMM during the 3rd quarter valued at approximately $29,000. CarsonAllaria Wealth Management Ltd. grew its stake in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the period. Finally, DiNuzzo Private Wealth Inc. bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $32,000. 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.