QUALCOMM (NASDAQ:QCOM) Shares Gap Down to $164.48

QUALCOMM Incorporated (NASDAQ:QCOM) gapped down prior to trading on Monday . The stock had previously closed at $164.48, but opened at $160.56. QUALCOMM shares last traded at $158.92, with a volume of 887,723 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have commented on QCOM. Bank of America lifted their price objective on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Evercore ISI started coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price for the company. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research report on Friday, August 2nd. Argus boosted their price objective on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Finally, Tigress Financial increased their target price on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

QUALCOMM Stock Down 1.1 %

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The stock’s fifty day simple moving average is $196.15 and its two-hundred day simple moving average is $178.90. The company has a market capitalization of $181.47 billion, a price-to-earnings ratio of 21.75, a P/E/G ratio of 1.74 and a beta of 1.27.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

Insider Buying and Selling at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,285 shares of company stock valued at $5,871,215. Corporate insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Pine Haven Investment Counsel Inc lifted its position in shares of QUALCOMM by 2.5% in the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after purchasing an additional 50 shares in the last quarter. Buffington Mohr McNeal increased its stake in QUALCOMM by 3.9% in the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock valued at $279,000 after buying an additional 53 shares during the period. TRUE Private Wealth Advisors lifted its position in QUALCOMM by 2.2% in the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after buying an additional 57 shares in the last quarter. Macroview Investment Management LLC boosted its stake in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after buying an additional 57 shares during the period. Finally, McClarren Financial Advisors Inc. grew its holdings in shares of QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after acquiring an additional 60 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

About QUALCOMM

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.