QUALCOMM (NASDAQ:QCOM) Trading 1.2% Higher – Still a Buy?

QUALCOMM Incorporated (NASDAQ:QCOM) shares shot up 1.2% during mid-day trading on Tuesday . The stock traded as high as $167.36 and last traded at $166.47. 1,483,714 shares changed hands during trading, a decline of 78% from the average session volume of 6,671,781 shares. The stock had previously closed at $164.56.

Analyst Ratings Changes

QCOM has been the subject of a number of research analyst reports. Susquehanna dropped their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. UBS Group raised their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. reduced their price target 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. Morgan Stanley lowered their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Finally, Citigroup reduced their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

QUALCOMM Stock Up 2.4 %

The company has a 50-day moving average of $159.05 and a two-hundred day moving average of $168.04. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company has a market capitalization of $193.71 billion, a PE ratio of 19.39, a P/E/G ratio of 2.79 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.12 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.95%. QUALCOMM’s payout ratio is 37.82%.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the transaction, the general counsel now directly owns 17,153 shares of the company’s stock, valued at $2,754,600.27. The trade was a 31.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wescott Financial Advisory Group LLC bought a new stake in shares of QUALCOMM in the 2nd quarter valued at approximately $449,000. Fred Alger Management LLC raised its stake in shares of QUALCOMM by 5.8% in the second quarter. Fred Alger Management LLC now owns 55,972 shares of the wireless technology company’s stock valued at $11,149,000 after acquiring an additional 3,078 shares during the period. Toronto Dominion Bank boosted its stake in shares of QUALCOMM by 6.2% during the 2nd quarter. Toronto Dominion Bank now owns 767,394 shares of the wireless technology company’s stock worth $152,850,000 after purchasing an additional 44,618 shares during the period. Kingfisher Capital LLC raised its position in QUALCOMM by 4.7% in the 2nd quarter. Kingfisher Capital LLC now owns 1,820 shares of the wireless technology company’s stock worth $362,000 after purchasing an additional 81 shares during the period. Finally, Alpha DNA Investment Management LLC boosted its position in shares of QUALCOMM by 32.8% during the second quarter. Alpha DNA Investment Management LLC now owns 6,045 shares of the wireless technology company’s stock valued at $1,204,000 after buying an additional 1,492 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

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.