QUALCOMM (NASDAQ:QCOM) Trading Down 0.1% – What’s Next?

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price dropped 0.1% during trading on Thursday . The stock traded as low as $170.97 and last traded at $171.54. Approximately 1,125,478 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 7,206,715 shares. The stock had previously closed at $171.71.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several research analyst reports. Morgan Stanley dropped their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Evercore ISI boosted their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. UBS Group raised their target price on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Citigroup cut their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Finally, KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

QUALCOMM Trading Up 0.1 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The company has a 50 day moving average of $160.11 and a 200 day moving average of $166.88. The stock has a market capitalization of $191.01 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 2.84 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, research analysts predict that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Activity

In related news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock worth $4,314,649 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors have recently made changes to their positions in QCOM. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the third quarter worth $26,000. CKW Financial Group acquired a new position in QUALCOMM during the 4th quarter worth about $27,000. Planning Capital Management Corp boosted its holdings in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the period. Accordant Advisory Group Inc acquired a new position in QUALCOMM in the 3rd quarter valued at about $36,000. Finally, Synergy Asset Management LLC purchased a new stake in QUALCOMM during the fourth quarter worth about $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.