QUALCOMM (NASDAQ:QCOM) Shares Up 0.9%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price traded up 0.9% on Wednesday . The company traded as high as $174.76 and last traded at $173.68. 2,149,254 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 9,314,185 shares. The stock had previously closed at $172.11.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on QCOM. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. 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. Bank of America upped their target price on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 31st. HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research report on Wednesday, July 17th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $215.00 target price on shares of QUALCOMM in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

QUALCOMM Price Performance

The firm has a market cap of $193.28 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 1.89 and a beta of 1.27. The stock’s fifty day moving average price is $189.05 and its 200-day moving average price is $179.90. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

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

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.96%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is owned by corporate insiders.

Institutional Trading of QUALCOMM

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pine Haven Investment Counsel Inc boosted its position in QUALCOMM by 2.5% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after acquiring an additional 50 shares during the period. Buffington Mohr McNeal boosted its stake in QUALCOMM by 3.9% during the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after buying an additional 53 shares in the last quarter. TRUE Private Wealth Advisors grew its stake in shares of QUALCOMM by 2.2% in the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock valued at $525,000 after purchasing an additional 57 shares during the period. Macroview Investment Management LLC increased its position in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after purchasing an additional 57 shares in the last quarter. Finally, McClarren Financial Advisors Inc. increased its holdings in QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after purchasing an additional 60 shares in the last quarter. 74.35% of the stock is currently owned by 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.