QUALCOMM (NASDAQ:QCOM) Stock Price Down 1.6% – Here’s Why

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price was down 1.6% during mid-day trading on Thursday . The company traded as low as $158.50 and last traded at $159.51. Approximately 1,283,547 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 7,712,219 shares. The stock had previously closed at $162.10.

Wall Street Analyst Weigh In

Several brokerages recently commented on QCOM. Evercore ISI reduced their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Mizuho cut their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Trading Up 1.8 %

The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company has a market capitalization of $173.84 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 2.01 and a beta of 1.25. The business’s 50-day moving average price is $164.94 and its two-hundred day moving average price is $165.64.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.16%. QUALCOMM’s payout ratio is 36.32%.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, December 5th. The stock was 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 in the company, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the transaction, the general counsel now directly owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,708 shares of company stock worth $7,713,734. 0.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Park Square Financial Group LLC acquired a new position in QUALCOMM during the 4th quarter worth approximately $48,000. Total Wealth Planning & Management Inc. acquired a new position in shares of QUALCOMM during the fourth quarter worth $225,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of QUALCOMM in the 4th quarter valued at $204,085,000. Brooklyn FI LLC acquired a new stake in shares of QUALCOMM during the 4th quarter valued at $389,000. Finally, Brucke Financial Inc. bought a new stake in QUALCOMM during the 4th quarter worth $458,000. Institutional investors own 74.35% of the company’s stock.

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.