QUALCOMM (NASDAQ:QCOM) Shares Down 2.2% - Should You Sell?

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) shares were down 2.2% during trading on Friday . The stock traded as low as $154.44 and last traded at $155.24. Approximately 1,959,450 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 8,714,420 shares. The stock had previously closed at $158.70.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on QCOM shares. Cantor Fitzgerald restated a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Susquehanna reduced their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Loop Capital reduced their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company reduced their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Finally, Citigroup reduced their target price on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, QUALCOMM has a consensus rating of "Hold" and an average target price of $189.88.

QUALCOMM Stock Performance

The company's fifty day moving average is $145.85 and its 200 day moving average is $155.15. The company has a market capitalization of $169.88 billion, a P/E ratio of 16.53, a P/E/G ratio of 2.01 and a beta of 1.26. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data 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 company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. QUALCOMM's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the firm earned $2.44 EPS. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.30%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 1,781 shares of the firm's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the transaction, the chief financial officer now directly owns 57,997 shares of the company's stock, valued at $7,661,403.70. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold a total of 423,464 shares of company stock valued at $8,135,164 in the last three months. Company insiders own 0.08% of the company's stock.

Institutional Trading of QUALCOMM

A number of hedge funds have recently made changes to their positions in the stock. 1248 Management LLC bought a new stake in shares of QUALCOMM during the 1st quarter worth $57,000. Inspire Investing LLC lifted its holdings in shares of QUALCOMM by 78.7% during the 1st quarter. Inspire Investing LLC now owns 34,918 shares of the wireless technology company's stock worth $5,364,000 after acquiring an additional 15,374 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in shares of QUALCOMM by 44.6% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 256 shares of the wireless technology company's stock worth $39,000 after acquiring an additional 79 shares during the last quarter. Modern Wealth Management LLC lifted its holdings in shares of QUALCOMM by 5.3% during the 1st quarter. Modern Wealth Management LLC now owns 10,936 shares of the wireless technology company's stock worth $1,680,000 after acquiring an additional 555 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of QUALCOMM during the 1st quarter worth $56,447,000. 74.35% of the stock is owned by 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.