QUALCOMM (NASDAQ:QCOM) Stock Price Up 3.4% - Time to Buy?

Key Points

• QUALCOMM's stock price increased by 3.4% during mid-day trading, reaching $152.97, despite a significant decline in trading volume compared to the daily average.
• A recent analyst report shows a consensus rating of "Hold" for QUALCOMM, with price targets ranging from $155 to $175, reflecting mixed perspectives on the stock's performance.
• The company announced a quarterly dividend of $0.89, resulting in an annualized yield of 2.3%, which will be paid on September 25th to shareholders of record on September 4th.

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) was up 3.4% during mid-day trading on Tuesday . The company traded as high as $152.57 and last traded at $152.97. Approximately 1,461,609 shares changed hands during trading, a decline of 83% from the average daily volume of 8,436,103 shares. The stock had previously closed at $147.97.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on QCOM shares. Piper Sandler cut their price objective on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. UBS Group increased their target price on shares of QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Bank of America lowered their price target on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, June 17th. Mizuho reduced their price objective on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Finally, Loop Capital decreased their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of "Hold" and an average price target of $181.10.

QUALCOMM Price Performance

The stock has a fifty day moving average price of $155.10 and a 200-day moving average price of $153.89. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The firm has a market capitalization of $164.89 billion, a PE ratio of 14.74, a P/E/G ratio of 2.15 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. The business had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The company's revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.33 earnings per share. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is presently 34.33%.

Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider owned 21,193 shares of the company's stock, valued at $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $7,490,810.88. This represents 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 valued at $8,352,355 in the last three months. 0.08% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QUALCOMM

A number of large investors have recently made changes to their positions in QCOM. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the 1st quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of QUALCOMM by 122.4% during the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company's stock worth $26,000 after buying an additional 93 shares during the last quarter. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC grew its position in QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after acquiring an additional 70 shares during the period. Finally, Sunbeam Capital Management LLC acquired a new stake in QUALCOMM during the fourth quarter worth $29,000. 74.35% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.