QUALCOMM (NASDAQ:QCOM) Trading Down 2.7%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price fell 2.7% on Tuesday . The company traded as low as $172.87 and last traded at $173.76. 2,549,576 shares were traded during trading, a decline of 72% from the average session volume of 9,119,420 shares. The stock had previously closed at $178.64.

Analyst Ratings Changes

A number of research analysts recently commented on QCOM shares. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a report on Tuesday. Mizuho increased their price target on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 31st. UBS Group increased their price target on shares of QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Susquehanna increased their price target on shares of QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley increased their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $199.63.

QUALCOMM Trading Down 5.0 %

The company has a market capitalization of $189.36 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 2.19 and a beta of 1.27. The company’s fifty day moving average is $203.81 and its 200-day moving average is $177.81. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98.

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

QUALCOMM Dividend Announcement

The company 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 $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.00%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at $9,623.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,185 shares of company stock valued at $8,552,835. 0.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QUALCOMM

Several hedge funds have recently made changes to their positions in QCOM. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the 1st quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. boosted its holdings in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in QUALCOMM in the fourth quarter valued at $32,000. Financial Connections Group Inc. purchased a new stake in QUALCOMM in the second quarter valued at $32,000. Finally, Cherry Tree Wealth Management LLC boosted its holdings in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 115 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

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.