QUALCOMM (NASDAQ:QCOM) Stock Price Up 0.5%

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) shares were up 0.5% during trading on Tuesday . The stock traded as high as $169.42 and last traded at $168.34. Approximately 974,304 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 9,040,744 shares. The stock had previously closed at $167.52.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent analyst reports. Rosenblatt Securities boosted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, February 1st. Citigroup lowered shares of QUALCOMM from a "buy" rating to a "neutral" rating and set a $160.00 price target on the stock. in a research note on Thursday, February 1st. Morgan Stanley lowered shares of QUALCOMM from an "overweight" rating to an "equal weight" rating and upped their price target for the company from $119.00 to $132.00 in a research note on Friday, December 8th. TD Cowen upped their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, February 1st. Finally, KeyCorp increased their price objective on shares of QUALCOMM from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $148.71.

QUALCOMM Stock Performance

The company has a market capitalization of $186.45 billion, a PE ratio of 24.21, a PEG ratio of 2.32 and a beta of 1.41. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The firm's 50-day simple moving average is $156.53 and its 200-day simple moving average is $135.21.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, research analysts predict that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were paid a dividend of $0.80 per share. The ex-dividend date was Wednesday, February 28th. This represents a $3.20 annualized dividend and a dividend yield of 1.92%. QUALCOMM's dividend payout ratio (DPR) is presently 46.38%.

Insider Buying and Selling

In related news, insider James J. Cathey sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the transaction, the insider now owns 4,972 shares in the company, valued at approximately $691,108. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Cristiano R. Amon sold 8,100 shares of the company's stock in a transaction on Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the sale, the chief executive officer now directly owns 32,400 shares of the company's stock, valued at approximately $4,843,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James J. Cathey sold 1,000 shares of the company's stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the transaction, the insider now owns 4,972 shares of the company's stock, valued at $691,108. The disclosure for this sale can be found here. Insiders sold a total of 34,360 shares of company stock worth $5,457,048 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

A number of hedge funds have recently modified their holdings of QCOM. Rheos Capital Works Inc. boosted its stake in QUALCOMM by 36.8% during the third quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company's stock worth $17,536,000 after buying an additional 42,500 shares during the period. HF Advisory Group LLC acquired a new stake in QUALCOMM during the third quarter worth approximately $629,000. DnB Asset Management AS raised its holdings in QUALCOMM by 31.1% during the third quarter. DnB Asset Management AS now owns 908,457 shares of the wireless technology company's stock worth $100,893,000 after purchasing an additional 215,522 shares in the last quarter. Sather Financial Group Inc raised its holdings in QUALCOMM by 5.8% during the third quarter. Sather Financial Group Inc now owns 327,547 shares of the wireless technology company's stock worth $36,377,000 after purchasing an additional 18,090 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its holdings in QUALCOMM by 24.2% during the third quarter. Stratos Wealth Advisors LLC now owns 39,460 shares of the wireless technology company's stock worth $4,382,000 after purchasing an additional 7,682 shares in the last quarter. 74.35% of the stock is currently 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.