QUALCOMM (NASDAQ:QCOM) Trading 0.2% Higher - Here's What Happened

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) traded up 0.2% during mid-day trading on Monday . The company traded as high as $140.06 and last traded at $140.15. 1,400,478 shares traded hands during trading, a decline of 84% from the average session volume of 8,855,235 shares. The stock had previously closed at $139.81.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on QCOM. Susquehanna dropped their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday. Barclays reduced their price objective on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Mizuho lowered their target price on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Finally, StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $192.58.

QUALCOMM Price Performance

The firm has a market capitalization of $154.79 billion, a P/E ratio of 14.95, a PEG ratio of 2.01 and a beta of 1.28. The business's 50-day simple moving average is $147.74 and its 200 day simple moving average is $158.35. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

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, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter last year, the company earned $2.44 EPS. The firm's revenue was up 17.0% compared to the same quarter last year. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.54%. QUALCOMM's payout ratio is presently 36.25%.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider now owns 22,793 shares of the company's stock, valued at $3,139,507.82. This trade represents a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,266 shares of company stock worth $5,267,436. Company insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On QUALCOMM

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its position in shares of QUALCOMM by 5.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,415,090 shares of the wireless technology company's stock worth $240,636,000 after buying an additional 69,707 shares during the period. Nordea Investment Management AB increased its stake in shares of QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock valued at $284,708,000 after purchasing an additional 523,244 shares in the last quarter. Pensionfund Sabic lifted its holdings in shares of QUALCOMM by 41.7% during the fourth quarter. Pensionfund Sabic now owns 17,000 shares of the wireless technology company's stock valued at $2,612,000 after purchasing an additional 5,000 shares during the last quarter. CWA Asset Management Group LLC boosted its position in shares of QUALCOMM by 1.6% in the 4th quarter. CWA Asset Management Group LLC now owns 80,353 shares of the wireless technology company's stock worth $12,344,000 after purchasing an additional 1,265 shares in the last quarter. Finally, Iowa State Bank grew its stake in shares of QUALCOMM by 1.0% in the 4th quarter. Iowa State Bank now owns 18,150 shares of the wireless technology company's stock worth $2,788,000 after buying an additional 176 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.

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