QUALCOMM (NASDAQ:QCOM) Trading Down 0% – Time to Sell?

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price dropped 0% on Monday . The stock traded as low as $150.11 and last traded at $152.46. Approximately 1,724,640 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 8,898,719 shares. The stock had previously closed at $152.50.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several recent research reports. Susquehanna lowered their price target on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. Evercore ISI lowered their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. Robert W. Baird lowered their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Citigroup lowered their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Loop Capital decreased their price target on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $192.08.

QUALCOMM Stock Up 0.8%

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’s fifty day moving average is $145.94 and its 200-day moving average is $156.80. The company has a market cap of $168.76 billion, a PE ratio of 16.42, a PEG ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company posted $2.44 earnings per share. On average, analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.32%. QUALCOMM’s payout ratio is 36.25%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction on 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 in the company, valued at approximately $9,374,385.96. The trade was a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,312 shares of company stock worth $1,948,379. Insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

A number of large investors have recently made changes to their positions in QCOM. Norges Bank bought a new position in QUALCOMM during the 4th quarter valued at about $2,721,882,000. Amundi grew its holdings in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Nuveen LLC bought a new position in QUALCOMM during the 1st quarter valued at about $529,713,000. Raymond James Financial Inc. bought a new position in QUALCOMM during the 4th quarter valued at about $527,053,000. Finally, GAMMA Investing LLC grew its holdings in QUALCOMM by 20,700.4% during the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock valued at $501,192,000 after purchasing an additional 3,247,068 shares during the last quarter. 74.35% of the stock is currently owned by 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.