QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.7%

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s stock price fell 0.7% during trading on Tuesday . The stock traded as low as $168.03 and last traded at $168.04. 1,191,093 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 8,410,144 shares. The stock had previously closed at $169.20.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on QCOM shares. Mizuho upped their target price on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, February 1st. HSBC upped their price objective on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a "buy" rating in a research note on Tuesday. Rosenblatt Securities boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, February 1st. Cantor Fitzgerald raised their price target on QUALCOMM from $150.00 to $190.00 and gave the company a "neutral" rating in a report on Monday, April 8th. Finally, Barclays lifted their price objective on QUALCOMM from $140.00 to $155.00 and gave the company an "overweight" rating in a research report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $160.68.

QUALCOMM Price Performance

The company has a fifty day moving average price of $166.45 and a two-hundred day moving average price of $145.75. 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 has a market cap of $185.09 billion, a P/E ratio of 24.04, a PEG ratio of 2.27 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Equities analysts anticipate that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.80. QUALCOMM's dividend payout ratio is presently 46.38%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction dated Thursday, April 4th. The shares were 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 in the company, valued at approximately $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Neil Martin sold 371 shares of the 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 sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company's stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

Several institutional investors and hedge funds have recently modified their holdings of QCOM. WFA Asset Management Corp acquired a new position in QUALCOMM in the 1st quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company's stock worth $30,000 after acquiring an additional 157 shares during the period. Richardson Capital Management LLC acquired a new position in shares of QUALCOMM in the first quarter valued at approximately $37,000. DiNuzzo Private Wealth Inc. bought a new position in shares of QUALCOMM during the fourth quarter worth approximately $32,000. Finally, Cherry Tree Wealth Management LLC increased its position in QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company's stock worth $34,000 after buying an additional 115 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.