QUALCOMM (NASDAQ:QCOM) Stock Price Up 1.1% - Time to Buy?

Key Points

• QUALCOMM shares rose by 1.1% on Monday, closing at $149.22 after trading as high as $151.06, with a significant decrease in trading volume.
• Analysts are divided on QUALCOMM's outlook, with price targets ranging from $140.00 to $185.00, and a consensus rating of "Hold".
• The company announced a quarterly dividend of $0.89 per share, equating to an annualized yield of 2.4%, scheduled for payment on September 25th.

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) shares traded up 1.1% during trading on Monday . The company traded as high as $151.06 and last traded at $149.22. 1,752,336 shares traded hands during trading, a decline of 79% from the average session volume of 8,449,890 shares. The stock had previously closed at $147.56.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of research analyst reports. Cantor Fitzgerald restated a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Rosenblatt Securities restated a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Thursday, July 31st. Evercore ISI cut their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Bank of America cut their target price on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, June 17th. Finally, Citigroup restated a "hold" rating on shares of QUALCOMM in a research note on Thursday, July 17th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, QUALCOMM presently has an average rating of "Hold" and a consensus price target of $181.10.

QUALCOMM Trading Up 3.4%

The stock has a market cap of $165.08 billion, a P/E ratio of 14.77, a PEG ratio of 2.15 and a beta of 1.23. The firm's fifty day moving average price is $155.10 and its two-hundred day moving average price is $153.89. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.06. The firm had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.33 earnings per share. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.3%. QUALCOMM's dividend payout ratio is presently 34.33%.

Insider Transactions at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the transaction, the insider owned 21,193 shares of the company's stock, valued at $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 424,099 shares of company stock valued at $8,352,355. 0.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd increased its stake in QUALCOMM by 565.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock valued at $19,098,000 after acquiring an additional 105,631 shares during the last quarter. PFG Advisors boosted its position in QUALCOMM by 8.0% during the first quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock valued at $663,000 after buying an additional 321 shares during the period. Teza Capital Management LLC purchased a new stake in QUALCOMM during the fourth quarter valued at about $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in QUALCOMM by 3.3% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock valued at $28,979,000 after buying an additional 6,017 shares during the period. Finally, Manchester Capital Management LLC boosted its position in QUALCOMM by 0.5% during the first quarter. Manchester Capital Management LLC now owns 24,169 shares of the wireless technology company's stock valued at $3,713,000 after buying an additional 129 shares during the period. 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.