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

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price traded up 0.8% during trading on Thursday . The company traded as high as $172.36 and last traded at $171.59. 993,785 shares traded hands during trading, a decline of 87% from the average session volume of 7,632,991 shares. The stock had previously closed at $170.29.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Morgan Stanley dropped their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Melius Research started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Barclays reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Up 0.3 %

The firm’s 50-day moving average price is $162.64 and its 200 day moving average price is $165.50. The firm has a market capitalization 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 current ratio of 2.62 and a quick ratio of 1.79.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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%. Sell-side analysts expect that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.99%. QUALCOMM’s payout ratio is currently 36.32%.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now owns 63,115 shares in the company, valued at $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 47,268 shares of company stock valued at $7,785,781. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors have recently added to or reduced their stakes in QCOM. Coign Capital Advisors LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at about $571,000. Heritage Trust Co bought a new stake in shares of QUALCOMM during the 4th quarter valued at about $13,711,000. Jaffetilchin Investment Partners LLC grew its position in QUALCOMM by 199.0% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 21,383 shares of the wireless technology company’s stock worth $3,285,000 after purchasing an additional 14,231 shares during the last quarter. Family Office Research LLC bought a new position in QUALCOMM in the 4th quarter worth about $263,000. Finally, Summit Financial Wealth Advisors LLC grew its position in QUALCOMM by 0.7% in the 4th quarter. Summit Financial Wealth Advisors LLC now owns 51,919 shares of the wireless technology company’s stock worth $8,839,000 after purchasing an additional 347 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

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.