QUALCOMM (NASDAQ:QCOM) Trading Down 4.6%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price was down 4.6% during trading on Wednesday . The stock traded as low as $183.92 and last traded at $184.41. Approximately 2,737,762 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 9,102,568 shares. The stock had previously closed at $193.35.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of analyst reports. Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. Morgan Stanley upped their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Piper Sandler raised their target price on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, Barclays boosted their price target on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $199.63.

QUALCOMM Stock Down 6.4 %

The stock has a market capitalization of $202.07 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 2.37 and a beta of 1.27. The business has a 50-day moving average of $205.09 and a 200-day moving average of $176.70. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share 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 analyst estimates of $9.32 billion. On average, sell-side analysts expect that QUALCOMM Incorporated will post 7.84 EPS for the current year.

QUALCOMM Dividend Announcement

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 given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the sale, the chief executive officer now directly owns 8,100 shares in the company, valued at $1,466,100. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $180.69, for a total transaction of $542,070.00. Following the completion of the sale, the chief financial officer now directly owns 66,343 shares of the company’s stock, valued at $11,987,516.67. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the transaction, the chief executive officer now owns 8,100 shares of the company’s stock, valued at approximately $1,466,100. The disclosure for this sale can be found here. In the last three months, insiders sold 45,185 shares of company stock valued at $8,552,835. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $2,507,978,000. Matrix Capital Management Company LP purchased a new position in shares of QUALCOMM in the 1st quarter valued at about $1,171,516,000. International Assets Investment Management LLC lifted 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 valued at $434,780,000 after purchasing an additional 2,983,206 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after buying an additional 1,909,025 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in 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 worth $997,210,000 after buying an additional 1,519,781 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

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.