QUALCOMM (NASDAQ:QCOM) Trading Down 0.2% – Here’s Why

QUALCOMM Incorporated (NASDAQ:QCOM) shares dropped 0.2% on Wednesday . The stock traded as low as $153.87 and last traded at $154.15. Approximately 1,091,797 shares traded hands during trading, a decline of 87% from the average daily volume of 8,336,775 shares. The stock had previously closed at $154.46.

Analyst Ratings Changes

A number of research firms have weighed in on QCOM. Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Sanford C. Bernstein raised their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. UBS Group raised their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Stock Up 3.3 %

The company has a market cap of $178.31 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 2.01 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 1.99. The company has a 50 day moving average of $164.68 and a 200-day moving average of $165.23.

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

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,045 shares of company stock worth $7,752,423 in the last three months. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On QUALCOMM

Institutional investors and hedge funds have recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the 4th quarter valued at approximately $26,000. Banque Transatlantique SA purchased a new position in shares of QUALCOMM in the 4th quarter valued at approximately $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM in the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $29,000. Finally, Sunbeam Capital Management LLC purchased a new stake in QUALCOMM in the fourth quarter worth $29,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Company Profile

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.