QUALCOMM (NASDAQ:QCOM) Stock Price Up 0.5%

QUALCOMM Incorporated (NASDAQ:QCOM) was up 0.5% during mid-day trading on Tuesday . The stock traded as high as $169.42 and last traded at $168.34. Approximately 974,304 shares traded hands during trading, a decline of 89% from the average daily volume of 9,040,744 shares. The stock had previously closed at $167.52.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Rosenblatt Securities upped their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Cantor Fitzgerald restated a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a research report on Monday, March 4th. Canaccord Genuity Group upped their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, January 19th. Morgan Stanley downgraded shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $119.00 to $132.00 in a research report on Friday, December 8th. Finally, Barclays upped their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $148.71.

QUALCOMM Stock Performance

The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The stock has a market cap of $188.75 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 2.28 and a beta of 1.41. The company has a 50 day simple moving average of $157.05 and a 200 day simple moving average of $135.64.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 7.67 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Wednesday, February 28th. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the sale, the insider now directly owns 4,972 shares in the company, valued at $691,108. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,360 shares of company stock worth $5,457,048. Insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Several institutional investors have recently added to or reduced their stakes in the stock. DHJJ Financial Advisors Ltd. bought a new position in shares of QUALCOMM during the 3rd quarter worth approximately $26,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares in the last quarter. Milestone Investment Advisors LLC bought a new position in shares of QUALCOMM during the 1st quarter worth approximately $26,000. Pacifica Partners Inc. boosted its holdings in shares of QUALCOMM by 150.0% during the 3rd quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company’s stock worth $27,000 after buying an additional 150 shares in the last quarter. Finally, O Dell Group LLC bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $28,000. 74.35% of the stock is currently owned by institutional investors.

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.