QUALCOMM (NASDAQ:QCOM) Trading Down 2.2%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price traded down 2.2% during mid-day trading on Wednesday . The company traded as low as $165.01 and last traded at $165.66. 2,032,658 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 9,379,108 shares. The stock had previously closed at $169.47.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Robert W. Baird raised their target price on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Morgan Stanley increased their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, TD Cowen lifted their price objective on shares of QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $210.63.

QUALCOMM Stock Down 0.7 %

The firm has a 50-day moving average price of $192.97 and a two-hundred day moving average price of $178.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The firm has a market cap of $192.15 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 1.81 and a beta of 1.27.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Buying and Selling at QUALCOMM

In other news, Director Neil Smit sold 3,069 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the sale, the director now directly owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now directly owns 5,902 shares in the company, valued at $1,185,947.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Neil Martin sold 1,116 shares of QUALCOMM stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the transaction, the chief accounting officer now directly owns 358 shares in the company, valued at $70,207.38. The disclosure for this sale can be found here. Insiders sold 23,185 shares of company stock worth $4,332,134 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Gateway Wealth Partners LLC increased its position in QUALCOMM by 3.0% in the 2nd quarter. Gateway Wealth Partners LLC now owns 3,362 shares of the wireless technology company’s stock valued at $670,000 after acquiring an additional 97 shares during the period. Regal Investment Advisors LLC grew its stake in shares of QUALCOMM by 11.5% in the 2nd quarter. Regal Investment Advisors LLC now owns 6,512 shares of the wireless technology company’s stock valued at $1,297,000 after purchasing an additional 674 shares during the last quarter. Quarry LP grew its stake in shares of QUALCOMM by 155.5% in the 2nd quarter. Quarry LP now owns 930 shares of the wireless technology company’s stock valued at $185,000 after purchasing an additional 566 shares during the last quarter. Invst LLC increased its holdings in shares of QUALCOMM by 2.9% in the second quarter. Invst LLC now owns 2,365 shares of the wireless technology company’s stock valued at $473,000 after purchasing an additional 67 shares during the period. Finally, William B. Walkup & Associates Inc. purchased a new stake in shares of QUALCOMM during the second quarter worth approximately $1,697,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

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.