QUALCOMM (NASDAQ:QCOM) Shares Down 0.8%

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) shares traded down 0.8% during trading on Wednesday . The stock traded as low as $166.68 and last traded at $167.29. 1,064,953 shares traded hands during trading, a decline of 87% from the average session volume of 8,509,152 shares. The stock had previously closed at $168.58.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on QCOM shares. KeyCorp upped their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, April 8th. Susquehanna increased their price objective on QUALCOMM from $175.00 to $205.00 and gave the company a "positive" rating in a report on Wednesday, April 10th. Evercore ISI initiated coverage on QUALCOMM in a report on Tuesday. They issued an "in-line" rating and a $177.00 target price for the company. Canaccord Genuity Group upped their target price on QUALCOMM from $152.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, January 19th. Finally, 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 report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $156.90.

QUALCOMM Stock Down 2.5 %

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 business's fifty day moving average price is $164.47 and its 200 day moving average price is $142.20. The company has a market capitalization of $183.38 billion, a P/E ratio of 23.81, a P/E/G ratio of 2.32 and a beta of 1.41.

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

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. This is a boost from QUALCOMM's previous quarterly dividend of $0.80. QUALCOMM's dividend payout ratio is 46.38%.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the sale, the chief technology officer now owns 269,893 shares in the company, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,360 shares of company stock valued at $7,184,678. 0.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors have recently modified their holdings of QCOM. Milestone Investment Advisors LLC bought a new stake in shares of QUALCOMM during the first quarter worth approximately $26,000. DHJJ Financial Advisors Ltd. bought a new stake in shares of QUALCOMM during the 3rd quarter valued at $26,000. Financial Gravity Asset Management Inc. lifted its stake in shares of QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 122 shares during the period. O Dell Group LLC bought a new position in shares of QUALCOMM in the 4th quarter worth $28,000. Finally, Legacy Financial Group LLC bought a new position in shares of QUALCOMM in the 3rd quarter worth $29,000. 74.35% of the stock is owned by 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.