QUALCOMM (NASDAQ:QCOM) Shares Up 1.1% - Here's What Happened

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) traded up 1.1% on Friday . The company traded as high as $158.32 and last traded at $157.73. 1,358,764 shares were traded during mid-day trading, a decline of 84% from the average session volume of 8,306,218 shares. The stock had previously closed at $156.04.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Rosenblatt Securities restated a "buy" rating and issued a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Evercore ISI decreased their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Mizuho cut their target price on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Finally, StockNews.com raised shares of QUALCOMM from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $205.32.

QUALCOMM Price Performance

The company has a market cap of $171.41 billion, a P/E ratio of 16.56, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm's fifty day moving average is $164.77 and its two-hundred day moving average is $164.93.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's payout ratio is currently 36.32%.

Insiders Place Their Bets

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the sale, the general counsel now owns 19,739 shares in the company, valued at $3,121,130.68. The trade was a 11.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares in the company, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,045 shares of company stock worth $7,752,423 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Institutional Trading of QUALCOMM

Several hedge funds have recently bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $26,000. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $29,000. Finally, Sunbeam Capital Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

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.