QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.6%

QUALCOMM Incorporated (NASDAQ:QCOM) was down 0.6% during mid-day trading on Friday . The stock traded as low as $159.72 and last traded at $160.52. Approximately 1,746,761 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 8,520,190 shares. The stock had previously closed at $161.44.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on QCOM shares. Piper Sandler raised their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. TD Cowen raised their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Rosenblatt Securities lifted their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. cut their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.90.

QUALCOMM Stock Performance

The company has a market capitalization of $176.23 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. The business’s fifty day moving average is $164.74 and its two-hundred day moving average is $142.33. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Equities research analysts predict that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM’s payout ratio is presently 46.38%.

Insider Activity

In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the transaction, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock valued at $5,973,728 in the last 90 days. Company insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Hedge funds have recently bought and sold shares of the stock. WFA Asset Management Corp purchased a new stake in QUALCOMM in the 1st quarter worth $27,000. O Dell Group LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $28,000. CarsonAllaria Wealth Management Ltd. raised its position in shares of QUALCOMM by 327.1% during the 4th 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 in the last quarter. Milestone Investment Advisors LLC purchased a new stake in shares of QUALCOMM during the 1st quarter valued at about $26,000. Finally, Richardson Capital Management LLC purchased a new stake in shares of QUALCOMM during the 1st quarter valued at about $37,000. 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.