QUALCOMM (NASDAQ:QCOM) Shares Down 1.5% – Here’s What Happened

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price fell 1.5% on Friday . The stock traded as low as $153.56 and last traded at $155.57. 2,449,990 shares traded hands during trading, a decline of 70% from the average session volume of 8,198,986 shares. The stock had previously closed at $157.95.

Analyst Ratings Changes

Several brokerages have weighed in on QCOM. Melius Research began coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Mizuho dropped their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Barclays dropped their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Evercore ISI dropped their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Trading Down 0.7 %

The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The business has a 50-day simple moving average of $164.51 and a two-hundred day simple moving average of $163.98. The stock has a market cap of $173.44 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is presently 36.32%.

Insider Activity

In other news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the sale, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On QUALCOMM

A number of large investors have recently added to or reduced their stakes in the business. Fairtree Asset Management Pty Ltd bought a new stake in QUALCOMM in the 4th quarter valued at $1,704,000. DSG Capital Advisors LLC bought a new stake in QUALCOMM in the 4th quarter valued at $1,601,000. Chancellor Financial Group WB LP bought a new stake in QUALCOMM in the 4th quarter valued at $224,000. 111 Capital bought a new stake in QUALCOMM in the 4th quarter valued at $4,716,000. Finally, Thoma Capital Management LLC bought a new position in QUALCOMM during the 4th quarter worth $343,000. Institutional investors 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.