QUALCOMM (NASDAQ:QCOM) Stock Price Down 1.9% – Should You Sell?

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price fell 1.9% during mid-day trading on Wednesday . The company traded as low as $168.48 and last traded at $168.68. 1,346,974 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 7,724,541 shares. The stock had previously closed at $171.99.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of research analyst reports. Piper Sandler decreased their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Sanford C. Bernstein boosted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Mizuho decreased their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Price Performance

The business’s 50-day simple moving average is $162.50 and its two-hundred day simple moving average is $165.47. The stock has a market cap of $188.14 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.79.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Research analysts expect that QUALCOMM Incorporated will post 9.19 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 2.00%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares in the company, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,268 shares of company stock valued at $7,276,381. Company insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Reston Wealth Management LLC bought a new position in QUALCOMM in the 3rd quarter worth about $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the 4th quarter worth approximately $26,000. CKW Financial Group purchased a new stake in QUALCOMM in the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the 4th quarter valued at $29,000. Finally, Planning Capital Management Corp grew its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 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.