QUALCOMM (NASDAQ:QCOM) Trading Down 0.9%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price traded down 0.9% during mid-day trading on Monday . The company traded as low as $196.08 and last traded at $197.44. 2,033,474 shares traded hands during trading, a decline of 78% from the average session volume of 9,312,352 shares. The stock had previously closed at $199.18.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on QCOM shares. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. UBS Group boosted their target price on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. raised their price target on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Argus boosted their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, Bank of America raised their target price on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $192.13.

QUALCOMM Stock Performance

The firm has a market cap of $222.46 billion, a P/E ratio of 26.78, a PEG ratio of 2.42 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The stock’s 50-day moving average is $195.82 and its 200 day moving average is $169.67.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.11. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. On average, research analysts predict that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.71%. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Activity

In related news, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the sale, the director now directly owns 5,902 shares in the company, valued at $1,185,947.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the transaction, the director now directly owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sylvia Acevedo sold 744 shares of QUALCOMM stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at approximately $9,802.08. The disclosure for this sale can be found here. Insiders sold 37,185 shares of company stock worth $6,860,715 over the last quarter. 0.08% of the stock is currently owned by company insiders.

Institutional Trading of QUALCOMM

Institutional investors have recently made changes to their positions in the business. WFA Asset Management Corp bought a new stake in QUALCOMM during the 1st quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. increased its position in shares of QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the last quarter. Richardson Capital Management LLC bought a new stake in QUALCOMM during the first quarter worth about $37,000. DiNuzzo Private Wealth Inc. acquired a new position in QUALCOMM during the fourth quarter valued at approximately $32,000. Finally, Cherry Tree Wealth Management LLC grew its stake in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 115 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.