QUALCOMM (NASDAQ:QCOM) Shares Down 0.4% - Here's Why

Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) dropped 0.4% on Tuesday . The stock traded as low as $145.71 and last traded at $147.04. Approximately 1,298,496 shares changed hands during trading, a decline of 85% from the average daily volume of 8,855,610 shares. The stock had previously closed at $147.62.

Analysts Set New Price Targets

A number of research firms have commented on QCOM. StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Piper Sandler dropped their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Benchmark lowered their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday. Rosenblatt Securities restated a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a research note on Tuesday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $196.61.

QUALCOMM Stock Performance

The business's 50-day simple moving average is $148.68 and its 200 day simple moving average is $159.06. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a market cap of $150.42 billion, a P/E ratio of 14.52, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM's revenue was up 17.0% on a year-over-year basis. During the same period last year, the company earned $2.44 earnings per share. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.62%. QUALCOMM's payout ratio is presently 38.03%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares of the company's stock, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,666 shares of company stock worth $5,047,052 over the last quarter. Insiders own 0.08% of the company's stock.

Institutional Trading of QUALCOMM

A number of large investors have recently bought and sold shares of the business. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at about $26,000. Banque Transatlantique SA acquired a new position in QUALCOMM during the fourth quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC grew its stake in QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after buying an additional 70 shares during the period. CKW Financial Group purchased a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $27,000. Finally, WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the first quarter worth $27,000. Institutional investors and hedge funds 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.