QUALCOMM (NASDAQ:QCOM) Trading Down 1.2% – Should You Sell?

QUALCOMM Incorporated (NASDAQ:QCOM) shares dropped 1.2% during mid-day trading on Friday . The stock traded as low as $161.80 and last traded at $161.94. Approximately 1,487,123 shares were traded during trading, a decline of 83% from the average daily volume of 8,983,997 shares. The stock had previously closed at $163.97.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft increased their target price on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. TD Cowen raised QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Piper Sandler reissued an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Citigroup lowered their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.92.

QUALCOMM Stock Performance

The stock has a market capitalization of $178.20 billion, a P/E ratio of 18.01, a P/E/G ratio of 2.70 and a beta of 1.28. The stock has a 50 day moving average of $168.30 and a 200 day moving average of $182.16. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.12%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insiders Place Their Bets

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Royal London Asset Management Ltd. increased its position in QUALCOMM by 2.7% in the 3rd quarter. Royal London Asset Management Ltd. now owns 485,500 shares of the wireless technology company’s stock worth $82,559,000 after purchasing an additional 12,796 shares during the last quarter. Redwood Grove Capital LLC increased its holdings in shares of QUALCOMM by 31.3% during the 3rd quarter. Redwood Grove Capital LLC now owns 103,206 shares of the wireless technology company’s stock valued at $17,550,000 after acquiring an additional 24,606 shares during the last quarter. Reynders McVeigh Capital Management LLC increased its holdings in shares of QUALCOMM by 31.1% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 2,106 shares of the wireless technology company’s stock valued at $358,000 after acquiring an additional 499 shares during the last quarter. Mission Creek Capital Partners Inc. increased its holdings in shares of QUALCOMM by 1.2% during the 3rd quarter. Mission Creek Capital Partners Inc. now owns 23,215 shares of the wireless technology company’s stock valued at $3,948,000 after acquiring an additional 265 shares during the last quarter. Finally, IHT Wealth Management LLC increased its holdings in shares of QUALCOMM by 55.3% during the 3rd quarter. IHT Wealth Management LLC now owns 30,647 shares of the wireless technology company’s stock valued at $5,176,000 after acquiring an additional 10,909 shares during 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.