QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.8%

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price dropped 0.8% during trading on Tuesday . The stock traded as low as $192.15 and last traded at $193.32. Approximately 1,449,617 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 9,120,034 shares. The stock had previously closed at $194.97.

Analyst Ratings Changes

QCOM has been the subject of a number of research reports. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. Cantor Fitzgerald boosted their price objective on QUALCOMM from $190.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Piper Sandler increased their target price on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Mizuho upped their price objective on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 31st. Finally, Tigress Financial lifted their target price on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, June 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.63.

QUALCOMM Trading Down 3.1 %

The firm’s 50-day moving average is $204.82 and its 200 day moving average is $176.73. The firm has a market capitalization of $195.74 billion, a price-to-earnings ratio of 23.98, a P/E/G ratio of 2.35 and a beta of 1.27. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. On average, equities analysts predict that QUALCOMM Incorporated will post 7.84 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared 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 dividend yield of 1.94%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

Insider Activity

In other news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Thursday, May 9th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred 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 directly owns 8,100 shares of the company’s stock, valued at approximately $1,466,100. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sylvia Acevedo sold 744 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,802.08. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock worth $8,552,835 in the last quarter. 0.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in QCOM. Blackston Financial Advisory Group LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $353,000. Columbia Trust Co 01012016 purchased a new position in QUALCOMM during the 4th quarter worth $251,000. Planned Solutions Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $138,000. Elk River Wealth Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $255,000. Finally, WestEnd Advisors LLC lifted its position in shares of QUALCOMM by 1.9% during the fourth quarter. WestEnd Advisors LLC now owns 143,882 shares of the wireless technology company’s stock valued at $20,810,000 after purchasing an additional 2,688 shares in the last quarter. 74.35% of the stock is owned by 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.