QUALCOMM (NASDAQ:QCOM) Trading 0.8% Higher – Here’s What Happened

QUALCOMM Incorporated (NASDAQ:QCOM) was up 0.8% during trading on Thursday . The stock traded as high as $172.36 and last traded at $171.59. Approximately 993,785 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 7,632,991 shares. The stock had previously closed at $170.29.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on QCOM. Mizuho reduced their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company upped their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Barclays reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Morgan Stanley reduced their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Trading Up 0.3 %

The stock has a market cap of $188.99 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62. The company’s 50 day simple moving average is $162.64 and its two-hundred day simple moving average is $165.50.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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 net margin of 25.94% and a return on equity of 39.51%. Research analysts expect that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.99%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,268 shares of company stock worth $7,785,781 in the last 90 days. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Paulson Wealth Management Inc. lifted its holdings in QUALCOMM by 2.2% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after purchasing an additional 61 shares during the last quarter. TBH Global Asset Management LLC lifted its holdings in shares of QUALCOMM by 0.9% during the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after buying an additional 63 shares in the last quarter. Blossom Wealth Management lifted its holdings in shares of QUALCOMM by 2.6% during the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after buying an additional 64 shares in the last quarter. PDS Planning Inc lifted its holdings in shares of QUALCOMM by 1.6% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after buying an additional 64 shares in the last quarter. Finally, Delta Financial Advisors LLC lifted its holdings in shares of QUALCOMM by 2.1% during the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after buying an additional 65 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.