QUALCOMM (NASDAQ:QCOM) Price Target Cut to $204.00 by Analysts at Morgan Stanley

QUALCOMM (NASDAQ:QCOM) had its price objective decreased by Morgan Stanley from $207.00 to $204.00 in a research note published on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the wireless technology company’s stock.

Several other analysts have also recently commented on QCOM. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday. Barclays upped their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research report on Friday, August 2nd. Finally, Evercore ISI lifted their price objective on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $212.16.

QUALCOMM Trading Down 1.2 %

QCOM traded down $2.00 during trading on Thursday, reaching $170.91. 10,725,759 shares of the company’s stock were exchanged, compared to its average volume of 9,039,770. The firm has a fifty day moving average price of $168.55 and a two-hundred day moving average price of $182.14. The stock has a market capitalization of $190.39 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. QUALCOMM has a one year low of $119.85 and a one year high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 39.70% and a net margin of 26.03%. As a group, equities research analysts forecast that QUALCOMM will post 8.62 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 1.99%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Transactions at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock valued at $2,709,186 over the last three months. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Leelyn Smith LLC bought a new position in QUALCOMM during the 1st quarter valued at approximately $208,000. Envestnet Portfolio Solutions Inc. lifted its stake in QUALCOMM by 3.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 60,297 shares of the wireless technology company’s stock worth $10,208,000 after acquiring an additional 2,018 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in QUALCOMM by 3.2% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,405 shares of the wireless technology company’s stock valued at $2,100,000 after acquiring an additional 384 shares in the last quarter. PFG Advisors raised its holdings in QUALCOMM by 6.9% in the 1st quarter. PFG Advisors now owns 3,453 shares of the wireless technology company’s stock worth $585,000 after purchasing an additional 223 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC lifted its position in shares of QUALCOMM by 289.9% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 92,602 shares of the wireless technology company’s stock worth $15,678,000 after purchasing an additional 68,850 shares during the period. 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.