QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.8%

QUALCOMM Incorporated (NASDAQ:QCOM) fell 0.8% during trading on Tuesday . The stock traded as low as $192.15 and last traded at $193.32. 1,449,617 shares were traded during trading, a decline of 84% from the average session volume of 9,120,034 shares. The stock had previously closed at $194.97.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QCOM. Citigroup increased their price target on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, July 15th. KeyCorp upped their target price on QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Canaccord Genuity Group lifted their price target on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $199.63.

QUALCOMM Price Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The company has a market cap of $195.74 billion, a PE ratio of 23.98, a P/E/G ratio of 2.35 and a beta of 1.27. The company has a 50-day moving average price of $204.82 and a two-hundred day moving average price of $176.73.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. Sell-side analysts expect that QUALCOMM Incorporated will post 7.84 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, September 26th. Shareholders of record on Thursday, September 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 1.94%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares in the company, valued at $46,208,526. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other QUALCOMM news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $181.52, for a total transaction of $135,050.88. Following the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,802.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the sale, the chief technology officer now directly owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock worth $8,552,835 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in QCOM. Norges Bank bought a new stake in QUALCOMM during the fourth quarter valued at $2,507,978,000. Matrix Capital Management Company LP acquired a new position in shares of QUALCOMM during the first quarter worth approximately $1,171,516,000. International Assets Investment Management LLC grew its stake in shares of QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after purchasing an additional 2,983,206 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of QUALCOMM by 34.8% during the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after acquiring an additional 1,519,781 shares during the period. Institutional investors and hedge funds 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.