QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.7% - Here's What Happened

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) traded down 0.7% during mid-day trading on Wednesday . The stock traded as low as $143.88 and last traded at $145.83. 1,638,017 shares traded hands during trading, a decline of 82% from the average session volume of 8,857,043 shares. The stock had previously closed at $146.88.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Benchmark decreased their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday. Mizuho lowered their target price on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Citigroup reduced their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Barclays lowered their price objective on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, QUALCOMM has an average rating of "Hold" and an average target price of $192.58.

QUALCOMM Trading Up 3.4 %

The company has a market cap of $154.63 billion, a PE ratio of 14.94, a P/E/G ratio of 2.01 and a beta of 1.28. The stock's 50 day moving average is $147.74 and its 200-day moving average is $158.44. 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 announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating 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 firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the firm earned $2.44 EPS. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.55%. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company's stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,266 shares of company stock worth $5,267,436 over the last quarter. Insiders own 0.08% of the company's stock.

Institutional Trading of QUALCOMM

Several institutional investors and hedge funds have recently modified their holdings of QCOM. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the 1st quarter worth $27,000. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM in the fourth quarter worth about $26,000. Banque Transatlantique SA bought a new position in QUALCOMM during the 4th quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC grew its holdings in QUALCOMM by 70.0% during the 1st 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 in the last quarter. Finally, CKW Financial Group purchased a new position in QUALCOMM during the 4th quarter valued at about $27,000. 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.