QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.7%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price was down 0.7% on Tuesday . The company traded as low as $168.03 and last traded at $168.04. Approximately 1,191,093 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 8,410,144 shares. The stock had previously closed at $169.20.

Wall Street Analyst Weigh In

A number of analysts have weighed in on QCOM shares. UBS Group increased their price target on shares of QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday. HSBC raised their price objective on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday. Mizuho raised their price objective on shares of QUALCOMM from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, Benchmark started coverage on shares of QUALCOMM in a report on Tuesday, April 23rd. They set a “buy” rating and a $200.00 price objective for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $179.36.

QUALCOMM Stock Performance

The company has a market capitalization of $200.99 billion, a P/E ratio of 26.13, a P/E/G ratio of 2.27 and a beta of 1.33. 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 stock’s 50 day simple moving average is $166.69 and its two-hundred day simple moving average is $145.87.

QUALCOMM (NASDAQ:QCOM) last announced its 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 net margin of 21.39% and a return on equity of 38.06%. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. As a group, research analysts expect that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is 46.38%.

Insider Buying and Selling

In related news, 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 transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, 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 transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. 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 business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at $3,875,850. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock valued at $5,973,728 over the last ninety days. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of QCOM. Raymond James Financial Services Advisors Inc. raised its position in QUALCOMM by 3.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 924,656 shares of the wireless technology company’s stock worth $102,692,000 after acquiring an additional 32,394 shares in the last quarter. Simon Quick Advisors LLC raised its position in QUALCOMM by 10.6% during the third quarter. Simon Quick Advisors LLC now owns 2,776 shares of the wireless technology company’s stock worth $308,000 after acquiring an additional 265 shares in the last quarter. Forza Wealth Management LLC raised its position in QUALCOMM by 3.7% during the third quarter. Forza Wealth Management LLC now owns 3,481 shares of the wireless technology company’s stock worth $387,000 after acquiring an additional 125 shares in the last quarter. Independent Advisor Alliance raised its position in QUALCOMM by 1.4% during the third quarter. Independent Advisor Alliance now owns 38,972 shares of the wireless technology company’s stock worth $4,328,000 after acquiring an additional 557 shares in the last quarter. Finally, Legacy Financial Group LLC bought a new stake in QUALCOMM during the third quarter worth $29,000. Institutional investors and hedge funds 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.