QUALCOMM (NASDAQ:QCOM) Stock Price Down 2.7% – Here’s What Happened

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) dropped 2.7% during mid-day trading on Friday . The stock traded as low as $153.67 and last traded at $153.69. Approximately 1,219,186 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 8,196,183 shares. The stock had previously closed at $157.97.

Analysts Set New Price Targets

A number of brokerages have weighed in on QCOM. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Barclays reduced their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Melius Research started coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Trading Down 3.3 %

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 stock has a 50-day moving average price of $164.16 and a two-hundred day moving average price of $163.84. The stock has a market cap of $168.91 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results 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%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Buying and Selling at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock worth $4,685,077 over the last 90 days. 0.08% of the stock is owned by insiders.

Institutional Trading of QUALCOMM

Institutional investors have recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $26,000. Banque Transatlantique SA bought a new position in QUALCOMM during the 4th quarter valued at about $26,000. CKW Financial Group purchased a new stake in QUALCOMM in the 4th quarter worth about $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM in the fourth quarter worth about $29,000. Finally, Sunbeam Capital Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $29,000. 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.