QUALCOMM (NASDAQ:QCOM) Trading Down 0.9%

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) fell 0.9% on Thursday . The company traded as low as $162.90 and last traded at $165.01. 1,110,715 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 9,209,464 shares. The stock had previously closed at $166.56.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on QCOM. Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. TD Cowen increased their price objective on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a report on Wednesday, July 17th. Wells Fargo & Company increased their price objective on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Finally, 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM Price Performance

The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $186.85 billion, a PE ratio of 22.54, a PEG ratio of 1.82 and a beta of 1.28. The company has a 50-day moving average of $176.11 and a 200 day moving average of $181.70.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping 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 company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. Sell-side analysts predict that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Dividend Announcement

The firm 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. This represents a $3.40 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The stock was 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 in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock valued at $3,496,590 in the last quarter. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Several large investors have recently bought and sold shares of QCOM. WFA Asset Management Corp purchased a new position in shares of QUALCOMM in the 1st quarter valued at about $27,000. HWG Holdings LP purchased a new position in shares of QUALCOMM in the 2nd quarter valued at about $30,000. Financial Connections Group Inc. purchased a new position in shares of QUALCOMM in the 2nd quarter valued at about $32,000. Aspect Partners LLC increased its holdings in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the last quarter. Finally, Richardson Capital Management LLC purchased a new position in shares of QUALCOMM in the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

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.