QUALCOMM (NASDAQ:QCOM) Shares Down 1.9% – Time to Sell?

QUALCOMM Incorporated (NASDAQ:QCOM) shares traded down 1.9% on Monday . The company traded as low as $147.88 and last traded at $149.88. 1,522,497 shares traded hands during trading, a decline of 82% from the average session volume of 8,577,823 shares. The stock had previously closed at $152.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on QCOM shares. Evercore ISI reduced their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Melius started coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Piper Sandler decreased their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Barclays cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Trading Down 0.4 %

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 company has a market capitalization of $169.27 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The stock’s fifty day moving average price is $163.66 and its two-hundred day moving average price is $163.64.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,337 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at $9,374,385.96. This represents a 5.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock valued at $4,685,077 over the last three months. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM during the fourth quarter valued at $26,000. Banque Transatlantique SA bought a new stake in QUALCOMM during the 4th quarter valued at about $26,000. CKW Financial Group bought a new position in shares of QUALCOMM in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM in the 4th quarter worth approximately $29,000. Finally, Sunbeam Capital Management LLC purchased a new stake in QUALCOMM during the 4th quarter valued at $29,000. 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.