QUALCOMM (NASDAQ:QCOM) Trading Down 0.4%

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) fell 0.4% on Wednesday . The company traded as low as $163.86 and last traded at $165.12. 2,159,731 shares were traded during trading, a decline of 74% from the average session volume of 8,402,836 shares. The stock had previously closed at $165.85.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on QCOM. Benchmark began coverage on QUALCOMM in a research report on Tuesday, April 23rd. They set a "buy" rating and a $200.00 target price for the company. JPMorgan Chase & Co. reduced their price target on QUALCOMM from $173.00 to $170.00 and set an "overweight" rating for the company in a research report on Thursday, February 1st. Cantor Fitzgerald boosted their price target on QUALCOMM from $150.00 to $190.00 and gave the stock a "neutral" rating in a research report on Monday, April 8th. Rosenblatt Securities boosted their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, February 1st. Finally, TD Cowen boosted their price target on QUALCOMM from $160.00 to $170.00 and gave the stock an "outperform" rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, QUALCOMM has a consensus rating of "Moderate Buy" and an average price target of $160.68.

QUALCOMM Stock Down 1.0 %

The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The stock has a market cap of $183.15 billion, a PE ratio of 23.78, a P/E/G ratio of 2.32 and a beta of 1.41. The business has a 50 day moving average price of $166.69 and a 200 day moving average price of $145.87.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its 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. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. Equities research analysts expect that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

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

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now owns 69,343 shares of the company's stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm's 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 transaction, the chief technology officer now owns 269,893 shares of the company's stock, valued at $43,018,245.27. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its position in shares of QUALCOMM by 2.6% during the first quarter. Janney Montgomery Scott LLC now owns 434,673 shares of the wireless technology company's stock worth $73,590,000 after buying an additional 10,849 shares during the period. Blue Trust Inc. boosted its holdings in QUALCOMM by 7.0% in the first quarter. Blue Trust Inc. now owns 7,706 shares of the wireless technology company's stock valued at $1,305,000 after purchasing an additional 504 shares during the period. Alta Wealth Advisors LLC boosted its holdings in QUALCOMM by 30.7% in the first quarter. Alta Wealth Advisors LLC now owns 2,556 shares of the wireless technology company's stock valued at $433,000 after purchasing an additional 601 shares during the period. Ascent Wealth Partners LLC boosted its holdings in QUALCOMM by 1.4% in the first quarter. Ascent Wealth Partners LLC now owns 57,244 shares of the wireless technology company's stock valued at $9,691,000 after purchasing an additional 798 shares during the period. Finally, Prosperity Consulting Group LLC boosted its holdings in QUALCOMM by 876.3% in the first quarter. Prosperity Consulting Group LLC now owns 36,922 shares of the wireless technology company's stock valued at $6,251,000 after purchasing an additional 33,140 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

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.