QUALCOMM (NASDAQ:QCOM) Trading 2.3% Higher – Should You Buy?

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price rose 2.3% during mid-day trading on Thursday . The stock traded as high as $164.11 and last traded at $164.08. Approximately 1,744,447 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 8,994,082 shares. The stock had previously closed at $160.42.

Analysts Set New Price Targets

QCOM has been the subject of several recent analyst reports. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research note on Friday, August 2nd. UBS Group boosted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.92.

QUALCOMM Price Performance

The business has a 50 day simple moving average of $168.29 and a two-hundred day simple moving average of $182.29. The firm has a market capitalization of $182.23 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 2.75 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The transaction 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 QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock worth $2,709,186 over the last three months. 0.08% of the stock is owned by insiders.

Institutional Trading of QUALCOMM

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

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.