QUALCOMM (NASDAQ:QCOM) Stock Price Down 2.1%

QUALCOMM Incorporated (NASDAQ:QCOM) was down 2.1% during trading on Thursday . The stock traded as low as $204.39 and last traded at $204.42. Approximately 1,531,662 shares traded hands during trading, a decline of 83% from the average daily volume of 9,126,537 shares. The stock had previously closed at $208.80.

Analyst Ratings Changes

A number of research firms have issued reports on QCOM. JPMorgan Chase & Co. increased their price target on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price objective on shares of QUALCOMM in a report on Thursday, May 2nd. Susquehanna raised their target price on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. Mizuho boosted their target price on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, KeyCorp lifted their price objective on shares of QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $192.96.

QUALCOMM Stock Performance

The company’s fifty day simple moving average is $202.30 and its 200 day simple moving average is $172.96. The firm has a market capitalization of $223.03 billion, a PE ratio of 27.17, a P/E/G ratio of 2.53 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. As a group, equities research analysts expect that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders sold a total of 45,185 shares of company stock worth $8,552,835 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

Institutional Trading of QUALCOMM

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Modera Wealth Management LLC grew its stake in shares of QUALCOMM by 1.1% during the third quarter. Modera Wealth Management LLC now owns 17,788 shares of the wireless technology company’s stock valued at $1,976,000 after buying an additional 185 shares during the last quarter. American Century Companies Inc. increased its stake in QUALCOMM by 21.4% in the 3rd quarter. American Century Companies Inc. now owns 548,558 shares of the wireless technology company’s stock worth $60,923,000 after purchasing an additional 96,808 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in QUALCOMM by 3.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 63,045 shares of the wireless technology company’s stock valued at $7,002,000 after purchasing an additional 1,840 shares during the last quarter. Phoenix Holdings Ltd. purchased a new stake in shares of QUALCOMM during the third quarter valued at approximately $598,000. Finally, Fragasso Group Inc. grew its holdings in shares of QUALCOMM by 6.5% in the third quarter. Fragasso Group Inc. now owns 5,378 shares of the wireless technology company’s stock worth $597,000 after purchasing an additional 327 shares during the last quarter. 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.