QUALCOMM (NASDAQ:QCOM) Stock Price Down 4.7% – What’s Next?

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price fell 4.7% during mid-day trading on Friday . The stock traded as low as $129.25 and last traded at $132.88. 4,353,119 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 8,617,862 shares. The stock had previously closed at $139.42.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several research reports. Barclays dropped their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Piper Sandler cut their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Benchmark reiterated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Melius began coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Finally, Melius Research assumed coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Price Performance

The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a market cap of $140.97 billion, a P/E ratio of 13.62, a P/E/G ratio of 2.01 and a beta of 1.28. The firm has a 50 day moving average price of $161.74 and a 200 day moving average price of $163.09.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.67%. QUALCOMM’s dividend payout ratio is 36.32%.

Insider Activity

In related news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock worth $4,685,077 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

A number of large investors have recently made changes to their positions in the business. Insigneo Advisory Services LLC increased its position in shares of QUALCOMM by 30.9% during the 3rd quarter. Insigneo Advisory Services LLC now owns 6,246 shares of the wireless technology company’s stock valued at $1,062,000 after purchasing an additional 1,476 shares during the last quarter. EP Wealth Advisors LLC increased its position in QUALCOMM by 10.8% during the third quarter. EP Wealth Advisors LLC now owns 97,961 shares of the wireless technology company’s stock valued at $16,658,000 after acquiring an additional 9,562 shares during the last quarter. iA Global Asset Management Inc. raised its stake in shares of QUALCOMM by 3.7% in the third quarter. iA Global Asset Management Inc. now owns 170,013 shares of the wireless technology company’s stock valued at $28,911,000 after acquiring an additional 6,117 shares during the period. Zacks Investment Management lifted its holdings in shares of QUALCOMM by 3.8% in the 3rd quarter. Zacks Investment Management now owns 592,257 shares of the wireless technology company’s stock worth $100,713,000 after acquiring an additional 21,792 shares during the last quarter. Finally, World Investment Advisors LLC boosted its stake in shares of QUALCOMM by 1,212.6% during the 3rd quarter. World Investment Advisors LLC now owns 146,764 shares of the wireless technology company’s stock worth $24,957,000 after purchasing an additional 135,583 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.