QUALCOMM (NASDAQ:QCOM) Stock Price Down 1% – What’s Next?

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price fell 1% during trading on Monday . The stock traded as low as $168.06 and last traded at $171.13. 2,424,076 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 7,230,423 shares. The stock had previously closed at $172.93.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent research reports. Benchmark restated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Evercore ISI lifted their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Mizuho decreased their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Melius initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Trading Up 1.6 %

The stock’s 50 day simple moving average is $161.31 and its 200 day simple moving average is $165.95. The firm has a market cap of $195.38 billion, a PE ratio of 19.56, a PEG ratio of 2.87 and a beta of 1.25. 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 (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.93%. QUALCOMM’s dividend payout ratio is 37.82%.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the transaction, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,981 shares of company stock valued at $4,000,870 over the last quarter. 0.08% of the stock is owned by corporate insiders.

Institutional Trading of QUALCOMM

A number of hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. increased its position in shares of QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after acquiring an additional 3,014,302 shares in the last quarter. International Assets Investment Management LLC boosted its stake in QUALCOMM by 17,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after purchasing an additional 2,919,490 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of QUALCOMM by 202.6% during the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock valued at $350,626,000 after purchasing an additional 1,380,500 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

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.