QUALCOMM (NASDAQ:QCOM) Stock Price Down 2.3%

QUALCOMM Incorporated (NASDAQ:QCOM) fell 2.3% during mid-day trading on Tuesday . The company traded as low as $164.08 and last traded at $166.13. 2,164,048 shares were traded during mid-day trading, a decline of 76% from the average session volume of 9,182,168 shares. The stock had previously closed at $170.05.

Analyst Ratings Changes

Several brokerages have recently commented on QCOM. StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Wells Fargo & Company raised their price target on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Finally, TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.67.

QUALCOMM Trading Down 1.7 %

The stock has a market cap of $186.52 billion, a PE ratio of 22.33, a PEG ratio of 1.83 and a beta of 1.28. 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 stock has a fifty day moving average price of $169.16 and a 200 day moving average price of $182.16.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. Equities analysts expect that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were issued a dividend of $0.85 per share. The ex-dividend date was Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.03%. QUALCOMM’s payout ratio is 45.70%.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Several institutional investors have recently bought and sold shares of the business. Pine Haven Investment Counsel Inc increased its holdings in shares of QUALCOMM by 2.5% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after acquiring an additional 50 shares during the period. Buffington Mohr McNeal grew its stake in QUALCOMM by 3.9% in the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock valued at $279,000 after purchasing an additional 53 shares during the last quarter. TRUE Private Wealth Advisors raised its holdings in QUALCOMM by 2.2% in the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after purchasing an additional 57 shares in the last quarter. Macroview Investment Management LLC lifted its position in shares of QUALCOMM by 10.5% during the second quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after buying an additional 57 shares during the last quarter. Finally, McClarren Financial Advisors Inc. boosted its holdings in shares of QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after buying an additional 60 shares in the last quarter. 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.