QUALCOMM (NASDAQ:QCOM) Trading Down 0.4%

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) fell 0.4% during mid-day trading on Wednesday . The company traded as low as $163.86 and last traded at $165.12. 2,159,731 shares traded hands during trading, a decline of 74% from the average session volume of 8,402,836 shares. The stock had previously closed at $165.85.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on QCOM shares. TD Cowen raised their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price objective on shares of QUALCOMM in a research note on Thursday. Robert W. Baird raised their target price on shares of QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday. Evercore ISI assumed coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price target for the company. Finally, Bank of America raised their price objective on QUALCOMM from $173.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.36.

QUALCOMM Stock Down 0.3 %

The firm has a market cap of $200.48 billion, a P/E ratio of 26.03, a PEG ratio of 2.25 and a beta of 1.33. The firm’s 50-day moving average price is $167.20 and its 200 day moving average price is $146.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.24% and a net margin of 23.03%. On average, equities research analysts expect that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 49.28%.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated 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 approximately $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, 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 completion of the transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,260 shares of company stock valued at $7,429,728. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Large investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in QUALCOMM during the fourth quarter worth approximately $2,507,978,000. International Assets Investment Management LLC lifted its holdings in shares of QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after buying an additional 2,983,206 shares during the period. Pacer Advisors Inc. boosted its stake in QUALCOMM by 1,543.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after buying an additional 2,659,323 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares during the period. Finally, Barclays PLC lifted its holdings in QUALCOMM by 53.6% in the 3rd quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock valued at $586,760,000 after acquiring an additional 1,842,868 shares during the last quarter. 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.