QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.4% After Earnings Miss

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price fell 0.4% on Wednesday following a weaker than expected earnings announcement. The company traded as low as $169.90 and last traded at $172.30. 2,237,561 shares changed hands during trading, a decline of 69% from the average session volume of 7,165,713 shares. The stock had previously closed at $173.04.

The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Analyst Upgrades and Downgrades

QCOM has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday. Susquehanna dropped their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, UBS Group upped their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. 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 firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,981 shares of company stock valued at $4,000,870. 0.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Reston Wealth Management LLC purchased a new stake in QUALCOMM during the third quarter valued at $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth about $26,000. CKW Financial Group bought a new position in shares of QUALCOMM in the 4th quarter valued at about $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM in the fourth quarter worth about $29,000. Finally, Planning Capital Management Corp increased its stake in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

The firm has a market capitalization of $186.60 billion, a PE ratio of 18.68, a P/E/G ratio of 2.87 and a beta of 1.25. The business has a 50-day simple moving average of $161.96 and a 200-day simple moving average of $166.04. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

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.