QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.3% - Here's Why

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s stock price traded down 0.3% during mid-day trading on Friday . The stock traded as low as $171.96 and last traded at $173.78. 1,568,705 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 6,804,365 shares. The stock had previously closed at $174.36.

Analysts Set New Price Targets

Several research firms recently weighed in on QCOM. Melius Research assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 price target on the stock. Evercore ISI lifted their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an "in-line" rating in a research report on Thursday, November 7th. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, October 2nd. Benchmark reissued a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, Mizuho lowered their price objective on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $206.57.

QUALCOMM Stock Down 1.3 %

The stock has a market cap of $191.21 billion, a P/E ratio of 19.14, a PEG ratio of 2.84 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The company's 50 day moving average price is $159.26 and its two-hundred day moving average price is $168.08.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. Equities analysts forecast that QUALCOMM Incorporated will post 9.14 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. QUALCOMM's payout ratio is currently 37.82%.

Insider Activity at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the company's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the business's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

Several institutional investors have recently added to or reduced their stakes in QCOM. State Street Corp grew its holdings in shares of QUALCOMM by 1.7% in the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock valued at $8,777,289,000 after purchasing an additional 870,814 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock worth $4,600,625,000 after buying an additional 1,989,725 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company's stock worth $1,999,114,000 after buying an additional 86,195 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of QUALCOMM by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company's stock valued at $1,421,037,000 after buying an additional 498,284 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of QUALCOMM by 30.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company's stock valued at $1,250,644,000 after acquiring an additional 1,741,432 shares during the last quarter. Hedge funds and other 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.