QUALCOMM (NASDAQ:QCOM) Stock Price Down 1.3%

Shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Free Report) fell 1.3% during trading on Friday . The company traded as low as $213.65 and last traded at $214.90. 1,339,037 shares were traded during trading, a decline of 85% from the average session volume of 8,831,944 shares. The stock had previously closed at $217.81.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent analyst reports. TD Cowen raised their price target on shares of QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. JPMorgan Chase & Co. upped their price target on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. KeyCorp boosted their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. HSBC upped their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Piper Sandler lifted their price target on shares of QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $188.74.

Check Out Our Latest Report on QCOM

QUALCOMM Stock Performance

The stock has a 50-day moving average price of $186.73 and a 200 day moving average price of $163.11. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $240.68 billion, a price-to-earnings ratio of 28.93, a P/E/G ratio of 2.62 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOMGet Free Report) last posted 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 net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. On average, analysts forecast that QUALCOMM Incorporated will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.58%. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Insider Transactions at QUALCOMM

In other news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now owns 54 shares in the company, valued at approximately $9,623.34. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,185 shares of company stock valued at $8,206,875. 0.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors have recently modified their holdings of QCOM. Peoples Bank OH acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $219,000. Bank Hapoalim BM raised its position in QUALCOMM by 35.0% during the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after buying an additional 9,192 shares during the last quarter. NewEdge Wealth LLC boosted its holdings in shares of QUALCOMM by 120.2% in the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after acquiring an additional 11,285 shares in the last quarter. 1834 Investment Advisors Co. increased its stake in shares of QUALCOMM by 6.6% during the fourth quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after acquiring an additional 2,818 shares during the period. Finally, Alexander Randolph Advisory Inc. purchased a new position in QUALCOMM during the fourth quarter worth about $305,000. 74.35% of the stock is owned by institutional investors and hedge funds.

About QUALCOMM

(Get Free Report)

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.

Further Reading

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