QUALCOMM (NASDAQ:QCOM) Trading Down 1.8%

QUALCOMM Incorporated (NASDAQ:QCOM) fell 1.8% on Friday . The company traded as low as $209.41 and last traded at $211.56. 5,627,213 shares traded hands during trading, a decline of 38% from the average session volume of 9,069,307 shares. The stock had previously closed at $215.47.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Bank of America raised their price target on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 31st. Susquehanna upped their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Tigress Financial raised their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Evercore ISI began coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

QUALCOMM Price Performance

The business’s 50 day moving average is $192.36 and its 200-day moving average is $167.17. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $237.18 billion, a P/E ratio of 28.57, a PEG ratio of 2.62 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 7.83 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were paid a $0.85 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.60%. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now owns 358 shares of the company’s stock, valued at approximately $70,207.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the sale, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at approximately $70,207.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock worth $8,206,875 over the last ninety days. 0.08% of the stock is owned by insiders.

Institutional Trading of QUALCOMM

Several large investors have recently made changes to their positions in the company. WFA Asset Management Corp bought a new position in shares of QUALCOMM in the 1st quarter worth $27,000. CarsonAllaria Wealth Management Ltd. grew its holdings in shares of QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares during the last quarter. Richardson Capital Management LLC bought a new stake in shares of QUALCOMM during the first quarter worth about $37,000. DiNuzzo Private Wealth Inc. acquired a new position in QUALCOMM during the 4th quarter valued at about $32,000. Finally, Cherry Tree Wealth Management LLC increased its holdings in QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.