QUALCOMM (NASDAQ:QCOM) Shares Up 2.2%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price traded up 2.2% during trading on Wednesday . The stock traded as high as $167.60 and last traded at $166.88. 1,991,991 shares traded hands during trading, a decline of 78% from the average session volume of 9,264,816 shares. The stock had previously closed at $163.24.

Analyst Ratings Changes

Several research analysts have weighed in on QCOM shares. Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Barclays boosted their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. KeyCorp raised their target price on shares of QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $215.00 price objective on shares of QUALCOMM in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $210.63.

QUALCOMM Price Performance

The business has a fifty day moving average of $182.04 and a two-hundred day moving average of $181.54. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The firm has a market capitalization of $185.85 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, research analysts predict that QUALCOMM Incorporated will post 7.98 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,000 shares of company stock worth $3,496,590. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors have recently modified their holdings of QCOM. Price T Rowe Associates Inc. MD lifted its holdings in shares of QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares during the last quarter. Norges Bank acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $2,507,978,000. Legal & General Group Plc grew its stake in shares of QUALCOMM by 0.9% during the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after buying an additional 86,195 shares during the last quarter. Matrix Capital Management Company LP acquired a new position in shares of QUALCOMM during the first quarter worth $1,171,516,000. Finally, Putnam Investments LLC lifted its stake in shares of QUALCOMM by 4.3% in the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after acquiring an additional 263,482 shares during the last quarter. Institutional investors and hedge funds 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.