QUALCOMM (NASDAQ:QCOM) Trading Up 1.2% - Still a Buy?

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) rose 1.2% during mid-day trading on Wednesday . The stock traded as high as $142.19 and last traded at $141.63. Approximately 2,130,737 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 8,851,507 shares. The stock had previously closed at $139.90.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QCOM. Susquehanna dropped their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Benchmark cut their price objective on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. TD Cowen dropped their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Citigroup cut their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $192.58.

QUALCOMM Stock Performance

The stock has a market capitalization of $157.48 billion, a P/E ratio of 15.41, a P/E/G ratio of 2.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock has a 50 day moving average of $146.99 and a 200 day moving average of $158.00.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the business earned $2.44 earnings per share. Equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared 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 positive change 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 annualized dividend and a yield of 2.48%. QUALCOMM's payout ratio is 36.25%.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction on 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 transaction, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 744 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares of the company's stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,599 shares of company stock valued at $5,733,290 over the last three months. Company insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On QUALCOMM

A number of large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. raised its position in shares of QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock valued at $4,239,000 after buying an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth $2,058,000. Burney Co. lifted its position in shares of QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock worth $22,568,000 after purchasing an additional 127,722 shares in the last quarter. Howard Bailey Securities LLC bought a new position in QUALCOMM in the 4th quarter valued at $240,000. Finally, Greenup Street Wealth Management LLC acquired a new stake in QUALCOMM in the fourth quarter worth about $2,256,000. 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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