QUALCOMM (NASDAQ:QCOM) Shares Down 4.4%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price fell 4.4% during mid-day trading on Tuesday . The stock traded as low as $167.44 and last traded at $167.51. 1,754,816 shares traded hands during trading, a decline of 81% from the average session volume of 9,249,476 shares. The stock had previously closed at $175.30.

Analyst Ratings Changes

Several research firms recently issued reports on QCOM. Bank of America raised their price objective on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Barclays lifted their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $215.00 price target on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Piper Sandler reiterated an “overweight” rating and set a $205.00 price target (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $210.63.

QUALCOMM Stock Down 6.3 %

The firm has a market cap of $183.24 billion, a PE ratio of 22.51, a P/E/G ratio of 1.93 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The firm’s 50-day moving average price is $182.82 and its two-hundred day moving average price is $181.47.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, equities research analysts expect that QUALCOMM Incorporated will post 7.98 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction 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 in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $3,496,590 in the last 90 days. 0.08% of the stock is owned by insiders.

Hedge Funds Weigh In On QUALCOMM

Institutional investors have recently bought and sold shares of the company. HWG Holdings LP acquired a new position in shares of QUALCOMM during the 2nd quarter worth $30,000. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the 1st quarter worth $27,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM during the 2nd quarter worth $32,000. Aspect Partners LLC grew its stake in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares during the period. Finally, McClarren Financial Advisors Inc. grew its stake in shares of QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after purchasing an additional 60 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

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.