QUALCOMM (NASDAQ:QCOM) Stock Price Down 2%

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) dropped 2% during mid-day trading on Monday . The company traded as low as $169.80 and last traded at $170.09. Approximately 1,085,758 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 9,258,517 shares. The stock had previously closed at $173.50.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of research reports. UBS Group raised their price target on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Morgan Stanley lifted their target price on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Barclays lifted their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their target price on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.63.

QUALCOMM Stock Down 1.2 %

The company has a 50 day simple moving average of $186.10 and a two-hundred day simple moving average of $180.91. The company has a market capitalization of $191.78 billion, a P/E ratio of 23.10, a PEG ratio of 1.89 and a beta of 1.27. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last announced 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 return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. As a group, equities analysts predict that QUALCOMM Incorporated will post 7.98 EPS for the current year.

QUALCOMM Announces Dividend

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 given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value 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 $36,912,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock worth $3,496,590 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

A number of large investors have recently modified their holdings of the company. WFA Asset Management Corp bought a new position in QUALCOMM in the first quarter worth approximately $27,000. CarsonAllaria Wealth Management Ltd. increased its position in shares of QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares in the last quarter. HWG Holdings LP acquired a new position in shares of QUALCOMM during the second quarter worth $30,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of QUALCOMM during the fourth quarter worth $32,000. Finally, Financial Connections Group Inc. acquired a new position in shares of QUALCOMM during the second quarter worth $32,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

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.