QUALCOMM (NASDAQ:QCOM) Shares Down 1.3% - Should You Sell?

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) shares traded down 1.3% during mid-day trading on Monday . The stock traded as low as $147.42 and last traded at $146.58. 926,146 shares traded hands during trading, a decline of 90% from the average session volume of 8,866,273 shares. The stock had previously closed at $148.56.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on QCOM shares. Citigroup cut their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Benchmark reissued a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Cantor Fitzgerald reissued a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. JPMorgan Chase & Co. restated an "overweight" rating and issued a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday. Finally, Mizuho decreased their target price on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $200.86.

QUALCOMM Price Performance

The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average price of $148.68 and a two-hundred day moving average price of $159.06. The firm has a market cap of $164.20 billion, a P/E ratio of 15.86, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 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 26th. Investors of record on Thursday, June 5th will be given a $0.89 dividend. 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 2.40%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is currently 38.03%.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 648 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $141.11, for a total value of $91,439.28. Following the transaction, the chief financial officer now owns 56,445 shares in the company, valued at approximately $7,964,953.95. This trade represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 744 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now 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 disclosure for this sale can be found here. Insiders sold a total of 30,666 shares of company stock valued at $5,047,052 in the last quarter. Company insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On QUALCOMM

Hedge funds and other institutional investors have recently modified their holdings of the business. Eagle Strategies LLC increased its stake in shares of QUALCOMM by 4.3% during the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after purchasing an additional 59 shares in the last quarter. Clark Capital Management Group Inc. grew its stake in shares of QUALCOMM by 3.6% in the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after buying an additional 59 shares during the last quarter. TBH Global Asset Management LLC increased its position in QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after buying an additional 63 shares in the last quarter. PDS Planning Inc raised its stake in QUALCOMM by 1.6% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after buying an additional 64 shares during the last quarter. Finally, CFS Investment Advisory Services LLC boosted its holdings in QUALCOMM by 1.1% in the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company's stock worth $929,000 after acquiring an additional 65 shares in the last quarter. Institutional investors 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.