QUALCOMM (NASDAQ:QCOM) Stock Price Up 1.4% - Still a Buy?

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s stock price traded up 1.4% on Friday . The company traded as high as $161.10 and last traded at $160.41. 1,527,961 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 8,481,887 shares. The stock had previously closed at $158.19.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Citigroup lowered their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Bank of America dropped their target price on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. Robert W. Baird decreased their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Evercore ISI reduced their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Finally, Wells Fargo & Company lowered their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $186.96.

QUALCOMM Trading Up 0.4%

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 company has a market capitalization of $174.46 billion, a PE ratio of 16.18, a PEG ratio of 2.01 and a beta of 1.26. The stock has a fifty day moving average of $149.00 and a 200 day moving average of $154.82.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.44 earnings per share. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.24%. QUALCOMM's dividend payout ratio is presently 36.25%.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider now directly owns 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $146.10, for a total transaction of $486,951.30. Following the completion of the transaction, the chief financial officer now directly owns 49,779 shares of the company's stock, valued at approximately $7,272,711.90. The trade was a 6.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 423,464 shares of company stock worth $8,135,164 in the last quarter. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

Large investors have recently added to or reduced their stakes in the stock. LaFleur & Godfrey LLC increased its position in QUALCOMM by 10.6% during the fourth quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock valued at $480,000 after acquiring an additional 300 shares during the last quarter. Brighton Jones LLC grew its holdings in QUALCOMM by 116.6% during the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in QUALCOMM by 15.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after purchasing an additional 340 shares during the last quarter. Sabal Trust CO raised its position in QUALCOMM by 5.4% in the 4th quarter. Sabal Trust CO now owns 3,884 shares of the wireless technology company's stock worth $597,000 after purchasing an additional 200 shares during the period. Finally, NewEdge Wealth LLC lifted its stake in QUALCOMM by 2.4% in the fourth quarter. NewEdge Wealth LLC now owns 50,836 shares of the wireless technology company's stock worth $7,809,000 after purchasing an additional 1,188 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

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.

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