QUALCOMM (NASDAQ:QCOM) Trading Up 1.1% - Still a Buy?

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) shares shot up 1.1% during mid-day trading on Monday . The stock traded as high as $158.45 and last traded at $156.42. 1,474,675 shares were traded during mid-day trading, a decline of 83% from the average session volume of 8,714,859 shares. The stock had previously closed at $154.72.

Analyst Ratings Changes

A number of analysts recently commented on QCOM shares. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Robert W. Baird reduced their price objective 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. Susquehanna cut their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Finally, Loop Capital reduced 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, sixteen have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, QUALCOMM currently has a consensus rating of "Hold" and an average price target of $189.88.

QUALCOMM Trading Up 1.2%

The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $171.99 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 2.01 and a beta of 1.26. The business has a 50-day moving average of $145.85 and a two-hundred day moving average of $155.14.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 earnings per share. Research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is presently 36.25%.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction that occurred on 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 sale, the chief financial officer now owns 49,779 shares in the company, valued at $7,272,711.90. The trade was a 6.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The stock was 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 423,464 shares of company stock valued at $8,135,164 over the last ninety days. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On QUALCOMM

Several large investors have recently bought and sold shares of QCOM. 1248 Management LLC bought a new stake in shares of QUALCOMM in the 1st quarter valued at $57,000. Inspire Investing LLC increased its holdings in shares of QUALCOMM by 78.7% in the first 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 in the last quarter. CBIZ Investment Advisory Services LLC raised its position in shares of QUALCOMM by 44.6% during the first quarter. CBIZ Investment Advisory Services LLC now owns 256 shares of the wireless technology company's stock worth $39,000 after purchasing an additional 79 shares during the period. 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 valued at $1,680,000 after purchasing an additional 555 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of QUALCOMM during the 1st quarter valued at about $56,447,000. 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.

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