QUALCOMM (NASDAQ:QCOM) Stock Price Up 2.1%

QUALCOMM Incorporated (NASDAQ:QCOM) shares rose 2.1% during mid-day trading on Tuesday . The company traded as high as $161.58 and last traded at $161.34. Approximately 1,967,219 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 9,402,948 shares. The stock had previously closed at $157.95.

Analyst Ratings Changes

QCOM has been the subject of a number of recent research reports. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. Benchmark reaffirmed a “buy” rating and issued a $200.00 target price on shares of QUALCOMM in a report on Friday, May 3rd. Wells Fargo & Company upped their target price on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Canaccord Genuity Group upped their price target on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM Trading Up 0.5 %

The stock has a market capitalization of $177.13 billion, a PE ratio of 21.69, a P/E/G ratio of 1.99 and a beta of 1.27. The firm has a 50 day moving average price of $199.87 and a 200 day moving average price of $178.68. The company has a quick ratio of 1.98, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Transactions at QUALCOMM

In other news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,802.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,802.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the sale, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at $1,466,100. The disclosure for this sale can be found here. Insiders sold a total of 43,129 shares of company stock valued at $8,014,436 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Institutional Trading of QUALCOMM

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pine Haven Investment Counsel Inc increased its position in QUALCOMM by 2.5% in the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after buying an additional 50 shares during the last quarter. Buffington Mohr McNeal increased its position in QUALCOMM by 3.9% in the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after buying an additional 53 shares during the last quarter. TRUE Private Wealth Advisors increased its position in QUALCOMM by 2.2% in the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after buying an additional 57 shares during the last quarter. Macroview Investment Management LLC increased its position in QUALCOMM by 10.5% in the second quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after buying an additional 57 shares during the last quarter. Finally, McClarren Financial Advisors Inc. increased its position in QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after buying an additional 60 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other 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.