QUALCOMM (NASDAQ:QCOM) Trading Down 0.9%

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) dropped 0.9% during mid-day trading on Tuesday . The stock traded as low as $157.84 and last traded at $159.28. Approximately 2,283,679 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 9,228,996 shares. The stock had previously closed at $160.77.

Analyst Upgrades and Downgrades

QCOM has been the subject of several analyst reports. Rosenblatt Securities raised their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Susquehanna upped their price objective on QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Mizuho increased 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. Barclays upped their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Citigroup lifted their price objective on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM Price Performance

The company’s 50-day moving average is $177.65 and its 200-day moving average is $181.74. The firm has a market cap of $185.88 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. 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 for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. Equities research analysts predict that QUALCOMM Incorporated will post 7.98 earnings per share for the current 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 $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.04%. QUALCOMM’s payout ratio is currently 45.70%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’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 sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were 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 of the company’s stock, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is owned by insiders.

Institutional Trading of QUALCOMM

Institutional investors have recently modified their holdings of the business. WFA Asset Management Corp bought a new position in QUALCOMM during the 1st quarter worth approximately $27,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM during the second quarter worth $30,000. Financial Connections Group Inc. bought a new position in QUALCOMM during the second quarter worth $32,000. Aspect Partners LLC lifted its holdings in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the period. Finally, Richardson Capital Management LLC bought a new stake in QUALCOMM during the first quarter valued at $37,000. 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.