QUALCOMM (NASDAQ:QCOM) Trading Down 0.9%

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price traded down 0.9% during mid-day trading on Thursday . The stock traded as low as $162.90 and last traded at $165.01. 1,110,715 shares were traded during mid-day trading, a decline of 88% from the average session volume of 9,209,464 shares. The stock had previously closed at $166.56.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Citigroup lifted their target price on QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Mizuho lifted their target price on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Bank of America lifted their target price on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.63.

QUALCOMM Stock Down 1.3 %

The business’s fifty day simple moving average is $177.65 and its 200 day simple moving average is $181.74. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The stock has a market cap of $183.48 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. Equities analysts forecast that QUALCOMM Incorporated will post 7.98 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,496,590 in the last quarter. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Heritage Wealth Management Inc. acquired a new position in QUALCOMM in the 2nd quarter worth $1,539,000. Sanctuary Advisors LLC acquired a new position in QUALCOMM in the 2nd quarter worth $33,168,000. Creekside Partners acquired a new position in QUALCOMM in the 2nd quarter worth $320,000. NCP Inc. boosted its stake in QUALCOMM by 50.5% in the 2nd quarter. NCP Inc. now owns 301 shares of the wireless technology company’s stock worth $60,000 after purchasing an additional 101 shares during the period. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in QUALCOMM in the 2nd quarter worth $129,000. 74.35% of the stock is owned by institutional investors and hedge funds.

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.