QUALCOMM (NASDAQ:QCOM) Trading Down 0.8% – What’s Next?

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price dropped 0.8% on Thursday . The stock traded as low as $154.09 and last traded at $156.43. Approximately 1,461,266 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 8,325,586 shares. The stock had previously closed at $157.64.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Evercore ISI cut their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. UBS Group boosted their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Wells Fargo & Company boosted their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Finally, Loop Capital initiated coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Performance

The business’s 50-day moving average is $164.73 and its 200 day moving average is $165.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market cap of $172.66 billion, a PE ratio of 16.68, a PEG ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is 36.32%.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,045 shares of company stock worth $7,752,423 in the last three months. 0.08% of the stock is owned by insiders.

Hedge Funds Weigh In On QUALCOMM

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wood Tarver Financial Group LLC bought a new position in QUALCOMM in the 4th quarter worth $31,000. Castle Rock Wealth Management LLC increased its position in shares of QUALCOMM by 5.1% during the fourth quarter. Castle Rock Wealth Management LLC now owns 9,330 shares of the wireless technology company’s stock valued at $1,433,000 after buying an additional 456 shares during the period. Dogwood Wealth Management LLC raised its stake in QUALCOMM by 7.8% in the fourth quarter. Dogwood Wealth Management LLC now owns 4,135 shares of the wireless technology company’s stock worth $635,000 after buying an additional 299 shares in the last quarter. Siemens Fonds Invest GmbH lifted its holdings in QUALCOMM by 52.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 67,367 shares of the wireless technology company’s stock worth $10,349,000 after buying an additional 23,219 shares during the period. Finally, GHE LLC boosted its position in QUALCOMM by 1.3% during the 4th quarter. GHE LLC now owns 22,396 shares of the wireless technology company’s stock valued at $3,440,000 after acquiring an additional 293 shares in the last quarter. Institutional investors 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.