Investors Buy Large Volume of Call Options on QUALCOMM (NASDAQ:QCOM)

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) was the target of some unusual options trading activity on Thursday. Investors bought 78,034 call options on the company. This represents an increase of approximately 24% compared to the typical volume of 63,117 call options.

QUALCOMM Price Performance

NASDAQ QCOM traded down $1.17 during trading hours on Thursday, hitting $201.76. The company had a trading volume of 14,470,663 shares, compared to its average volume of 8,688,804. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The firm has a market capitalization of $225.16 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 2.48 and a beta of 1.33. QUALCOMM has a 52 week low of $101.47 and a 52 week high of $207.95. The firm has a 50 day simple moving average of $173.97 and a 200 day simple moving average of $154.04.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion for the quarter, compared to analysts' expectations of $9.32 billion. Equities research analysts expect that QUALCOMM will post 7.81 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM's previous quarterly dividend of $0.80. QUALCOMM's dividend payout ratio is currently 43.01%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an "overweight" rating in a research report on Thursday, May 2nd. Argus increased their price target on QUALCOMM from $180.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, May 7th. Morgan Stanley upped their price objective on QUALCOMM from $158.00 to $172.00 and gave the company an "equal weight" rating in a research note on Thursday, May 2nd. Evercore ISI began coverage on QUALCOMM in a research note on Tuesday, April 16th. They set an "in-line" rating and a $177.00 target price on the stock. Finally, Rosenblatt Securities increased their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $180.48.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares of the company's stock, valued at $12,030,317.07. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total value of $616,684.86. Following the transaction, the director now directly owns 5,902 shares in the company, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,074 shares of company stock worth $12,258,386. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

A number of large investors have recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. boosted its stake in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company's stock worth $26,000 after buying an additional 122 shares in the last quarter. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the 1st quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. grew its holdings in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company's stock valued at $30,000 after purchasing an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in QUALCOMM in the 4th quarter worth $32,000. Finally, Cherry Tree Wealth Management LLC lifted its stake in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company's stock worth $34,000 after purchasing an additional 115 shares during the last quarter. 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.