QUALCOMM (NASDAQ:QCOM) Trading 3.7% Higher - Still a Buy?

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) shares traded up 3.7% during mid-day trading on Friday . The stock traded as high as $139.95 and last traded at $140.20. 3,932,950 shares were traded during mid-day trading, a decline of 56% from the average session volume of 8,921,268 shares. The stock had previously closed at $135.21.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Evercore ISI reduced their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research note on Thursday. JPMorgan Chase & Co. reissued an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 29th. Mizuho decreased their target price on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Finally, Loop Capital cut their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $192.58.

QUALCOMM Stock Performance

The company has a 50-day moving average price of $147.74 and a two-hundred day moving average price of $158.35. 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 company has a market capitalization of $154.77 billion, a PE ratio of 14.95, a PEG ratio of 2.01 and a beta of 1.28.

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

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued 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 annualized dividend and a dividend yield of 2.54%. QUALCOMM's payout ratio is presently 36.25%.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was 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. The trade was a 48.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the sale, the insider now owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,266 shares of company stock valued at $5,267,436 over the last three months. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM in the fourth quarter worth about $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM in the 4th quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC lifted its position 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 valued at $26,000 after purchasing an additional 70 shares during the period. CKW Financial Group bought a new position in shares of QUALCOMM during the 4th quarter valued at $27,000. Finally, WFA Asset Management Corp purchased a new position in QUALCOMM in the first quarter worth about $27,000. 74.35% of the stock is owned by institutional investors.

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.