QUALCOMM (NASDAQ:QCOM) Shares Up 1.9% - Time to Buy?

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s stock price was up 1.9% during mid-day trading on Friday . The stock traded as high as $150.32 and last traded at $150.34. Approximately 974,821 shares were traded during trading, a decline of 89% from the average daily volume of 8,699,638 shares. The stock had previously closed at $147.56.

Analysts Set New Price Targets

A number of research firms have commented on QCOM. Robert W. Baird decreased their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Susquehanna lowered their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company cut their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $189.88.

QUALCOMM Price Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a fifty day simple moving average of $143.61 and a 200-day simple moving average of $155.12. The company has a market capitalization of $163.87 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion for 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%. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.44 earnings per share. On average, equities research analysts anticipate 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. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.39%. QUALCOMM's dividend payout ratio is presently 36.25%.

Insider Buying and Selling at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 269 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the transaction, the chief financial officer now owns 57,728 shares of the company's stock, valued at $7,568,140.80. This represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 425,064 shares of company stock valued at $8,381,948. Company insiders own 0.08% of the company's stock.

Institutional Trading of QUALCOMM

Institutional investors have recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at approximately $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM in the 4th quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 70 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its stake in QUALCOMM by 122.4% during the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company's stock worth $26,000 after purchasing an additional 93 shares during the last quarter. Finally, WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the first quarter worth $27,000. Institutional investors and hedge funds 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.