QUALCOMM (NASDAQ:QCOM) Trading Down 1.1% - Here's What Happened

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s stock price traded down 1.1% during trading on Thursday . The stock traded as low as $156.79 and last traded at $158.06. 1,182,580 shares were traded during trading, a decline of 86% from the average session volume of 8,337,541 shares. The stock had previously closed at $159.88.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Benchmark dropped their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. UBS Group upped their target price on QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday. Susquehanna decreased their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. upped their target price on QUALCOMM from $185.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of "Hold" and an average target price of $184.86.

QUALCOMM Stock Down 0.0%

The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The firm's 50-day moving average is $154.48 and its two-hundred day moving average is $155.04. The stock has a market cap of $174.37 billion, a P/E ratio of 16.13, a PEG ratio of 2.06 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.44 EPS. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, September 4th. QUALCOMM's payout ratio is 36.25%.

Insider Activity at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the transaction, the chief financial officer directly owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock worth $8,310,735 in the last quarter. Corporate insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On QUALCOMM

A number of large investors have recently modified their holdings of QCOM. Banque Transatlantique SA acquired a new position in shares of QUALCOMM during the 4th quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC lifted its stake 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 valued at $26,000 after purchasing an additional 70 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its stake in QUALCOMM by 122.4% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 93 shares during the last quarter. WFA Asset Management Corp acquired a new stake in QUALCOMM in the 1st quarter valued at about $27,000. Finally, Sunbeam Capital Management LLC acquired a new stake in QUALCOMM in the 4th quarter valued at about $29,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.