QUALCOMM (NASDAQ:QCOM) Shares Down 2.5% - Should You Sell?

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s stock price fell 2.5% during mid-day trading on Friday . The stock traded as low as $141.77 and last traded at $143.66. 2,740,402 shares changed hands during trading, a decline of 69% from the average session volume of 8,868,068 shares. The stock had previously closed at $147.37.

Wall Street Analyst Weigh In

QCOM has been the topic of several recent research reports. Benchmark decreased their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Citigroup reduced their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, TD Cowen lowered their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of "Hold" and a consensus target price of $192.08.

QUALCOMM Trading Down 1.3%

The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The business's fifty day moving average is $145.68 and its 200-day moving average is $156.54. The stock has a market capitalization of $159.74 billion, a PE ratio of 15.54, a P/E/G ratio of 2.01 and a beta of 1.29.

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

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's payout ratio is currently 36.25%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares in the company, valued at approximately $9,374,385.96. This represents a 5.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider now directly owns 22,793 shares of the company's stock, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,568 shares of company stock worth $1,818,305. 0.08% of the stock is currently owned by company insiders.

Institutional Trading of QUALCOMM

A number of hedge funds have recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM during the 4th quarter valued at $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM in the fourth quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC increased its position in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after purchasing an additional 70 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its stake in shares of QUALCOMM by 122.4% during the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company's stock worth $26,000 after purchasing an additional 93 shares in the last quarter. Finally, CKW Financial Group acquired a new stake in shares of QUALCOMM during the 4th quarter valued at about $27,000. 74.35% of the stock is 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.

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