QUALCOMM (NASDAQ:QCOM) Trading 0% Higher – Here’s What Happened

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) shot up 0% during mid-day trading on Tuesday . The company traded as high as $155.84 and last traded at $154.65. 495,308 shares traded hands during trading, a decline of 94% from the average session volume of 8,893,289 shares. The stock had previously closed at $154.58.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. Sanford C. Bernstein lifted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. UBS Group upped their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Morgan Stanley lowered their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $208.00.

QUALCOMM Stock Down 0.2 %

The business’s 50 day moving average price is $161.83 and its 200 day moving average price is $173.48. The firm has a market cap of $171.43 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 2.65 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.20%. QUALCOMM’s payout ratio is currently 37.82%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. The trade was a 5.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,127 shares of company stock valued at $4,853,805 over the last ninety days. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Hedge funds have recently modified their holdings of the company. Lantz Financial LLC purchased a new position in QUALCOMM in the second quarter worth approximately $234,000. Aptus Capital Advisors LLC increased its position in shares of QUALCOMM by 3.4% during the 2nd quarter. Aptus Capital Advisors LLC now owns 14,159 shares of the wireless technology company’s stock worth $2,820,000 after purchasing an additional 466 shares during the last quarter. Summit Financial LLC raised its holdings in QUALCOMM by 79.3% in the 2nd quarter. Summit Financial LLC now owns 5,116 shares of the wireless technology company’s stock valued at $1,019,000 after buying an additional 2,263 shares during the period. Valmark Advisers Inc. raised its holdings in QUALCOMM by 7.0% in the 2nd quarter. Valmark Advisers Inc. now owns 3,637 shares of the wireless technology company’s stock valued at $724,000 after buying an additional 237 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in QUALCOMM during the second quarter worth about $478,000. Hedge funds and other 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.