QUALCOMM (NASDAQ:QCOM) Trading 0% Higher – Here’s Why

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price traded up 0% during mid-day trading on Monday . The stock traded as high as $172.82 and last traded at $172.23. 4,685,871 shares were traded during trading, a decline of 41% from the average session volume of 7,928,451 shares. The stock had previously closed at $172.15.

Analysts Set New Price Targets

QCOM has been the subject of several recent research reports. Wells Fargo & Company lifted their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Barclays lowered their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Benchmark reaffirmed a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. Finally, Evercore ISI cut their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Up 0.9 %

The stock has a market cap of $193.79 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.99 and a beta of 1.25. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a 50-day simple moving average of $163.70 and a two-hundred day simple moving average of $165.54.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,268 shares of company stock valued at $7,785,781. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QCOM. Northwest Investment Counselors LLC bought a new stake in QUALCOMM during the third quarter worth about $116,000. Raleigh Capital Management Inc. lifted its holdings in shares of QUALCOMM by 5.2% during the third quarter. Raleigh Capital Management Inc. now owns 5,020 shares of the wireless technology company’s stock valued at $854,000 after purchasing an additional 247 shares during the last quarter. Waterway Wealth Management LLC boosted its position in shares of QUALCOMM by 2.9% in the 3rd quarter. Waterway Wealth Management LLC now owns 4,150 shares of the wireless technology company’s stock worth $706,000 after purchasing an additional 117 shares in the last quarter. Townsend Asset Management Corp NC ADV grew its stake in shares of QUALCOMM by 4.0% in the 3rd quarter. Townsend Asset Management Corp NC ADV now owns 67,742 shares of the wireless technology company’s stock worth $11,519,000 after buying an additional 2,596 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its position in QUALCOMM by 28.6% during the 3rd quarter. Foundations Investment Advisors LLC now owns 13,582 shares of the wireless technology company’s stock valued at $2,310,000 after buying an additional 3,023 shares in the last quarter. 74.35% of the stock is 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.