Susquehanna Has Lowered Expectations for QUALCOMM (NASDAQ:QCOM) Stock Price

QUALCOMM (NASDAQ:QCOM) had its price target trimmed by Susquehanna from $230.00 to $210.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a positive rating on the wireless technology company’s stock.

Several other research firms also recently weighed in on QCOM. Deutsche Bank Aktiengesellschaft increased their target price on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Barclays boosted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Morgan Stanley cut their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, Evercore ISI boosted their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $210.15.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $156.79 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company has a market cap of $174.19 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 2.77 and a beta of 1.28. The company has a 50-day simple moving average of $167.82 and a 200-day simple moving average of $181.57. QUALCOMM has a 12 month low of $125.67 and a 12 month high of $230.63.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,450 shares of company stock worth $2,911,306 in the last three months. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors have recently made changes to their positions in the company. Anchor Investment Management LLC raised its position in shares of QUALCOMM by 2.2% during the 3rd quarter. Anchor Investment Management LLC now owns 34,700 shares of the wireless technology company’s stock valued at $5,901,000 after acquiring an additional 747 shares in the last quarter. Te Ahumairangi Investment Management Ltd increased its stake in QUALCOMM by 60.9% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 37,551 shares of the wireless technology company’s stock valued at $6,349,000 after purchasing an additional 14,213 shares during the last quarter. Unigestion Holding SA raised its holdings in shares of QUALCOMM by 53.0% during the third quarter. Unigestion Holding SA now owns 80,223 shares of the wireless technology company’s stock worth $13,642,000 after purchasing an additional 27,801 shares during the period. TCW Group Inc. lifted its position in shares of QUALCOMM by 0.4% in the 3rd quarter. TCW Group Inc. now owns 154,814 shares of the wireless technology company’s stock worth $26,326,000 after buying an additional 666 shares during the last quarter. Finally, Soltis Investment Advisors LLC boosted its holdings in shares of QUALCOMM by 1,924.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 33,410 shares of the wireless technology company’s stock valued at $5,681,000 after buying an additional 31,760 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.