Barclays Issues Pessimistic Forecast for QUALCOMM (NASDAQ:QCOM) Stock Price

QUALCOMM (NASDAQ:QCOM) had its price objective decreased by Barclays from $200.00 to $185.00 in a research report sent to investors on Friday morning, MarketBeat.com reports. Barclays currently has an overweight rating on the wireless technology company’s stock.

A number of other research analysts also recently issued reports on QCOM. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research note on Wednesday, November 20th. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Loop Capital assumed coverage on shares of QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. Susquehanna decreased their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Finally, Sanford C. Bernstein lifted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One equities 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 company. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $206.57.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $164.56 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM has a 52 week low of $139.26 and a 52 week high of $230.63. The firm’s 50 day moving average is $158.98 and its two-hundred day moving average is $169.28. The firm has a market capitalization of $182.83 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.63 and a beta of 1.25.

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

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction 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 owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of QCOM. HWG Holdings LP acquired a new stake in QUALCOMM during the second quarter worth about $30,000. Reston Wealth Management LLC purchased a new position in QUALCOMM in the third quarter valued at about $26,000. Planning Capital Management Corp grew its stake in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares in the last quarter. Hershey Financial Advisers LLC purchased a new stake in shares of QUALCOMM during the 2nd quarter valued at about $42,000. Finally, Accordant Advisory Group Inc acquired a new stake in QUALCOMM in the third quarter valued at approximately $36,000. 74.35% of the stock is currently 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.