QUALCOMM (NASDAQ:QCOM) Shares Down 1.2%

Shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Free Report) fell 1.2% during mid-day trading on Friday . The company traded as low as $201.46 and last traded at $202.30. 3,133,438 shares were traded during trading, a decline of 64% from the average session volume of 8,798,474 shares. The stock had previously closed at $204.80.

Analyst Upgrades and Downgrades

Several analysts have issued reports on QCOM shares. Canaccord Genuity Group lifted their price target on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Robert W. Baird boosted their target price on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price target on shares of QUALCOMM in a research note on Thursday, May 2nd. Bank of America boosted their price objective on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Evercore ISI assumed coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.91.

View Our Latest Stock Analysis on QUALCOMM

QUALCOMM Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The firm has a fifty day simple moving average of $179.52 and a 200-day simple moving average of $158.21. The firm has a market cap of $227.72 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 2.53 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOMGet Free Report) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.67%. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 689 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $160.64, for a total value of $110,680.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $169.60, for a total value of $1,373,760.00. Following the completion of the sale, the chief executive officer now owns 16,200 shares in the company, valued at approximately $2,747,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 689 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $160.64, for a total transaction of $110,680.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,974 shares of company stock worth $9,691,316. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Several institutional investors have recently made changes to their positions in the stock. Grandview Asset Management LLC lifted its position in shares of QUALCOMM by 2.3% during the 1st quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after acquiring an additional 62 shares during the period. Tealwood Asset Management Inc. raised its stake in QUALCOMM by 0.6% in the first quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock valued at $1,676,000 after purchasing an additional 63 shares in the last quarter. VERITY Wealth Advisors lifted its position in QUALCOMM by 0.8% during the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock worth $1,320,000 after purchasing an additional 64 shares during the period. SlateStone Wealth LLC grew its stake in QUALCOMM by 1.7% during the first quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company’s stock worth $656,000 after buying an additional 65 shares in the last quarter. Finally, Verus Capital Partners LLC increased its holdings in QUALCOMM by 1.4% in the 1st quarter. Verus Capital Partners LLC now owns 4,573 shares of the wireless technology company’s stock valued at $774,000 after buying an additional 65 shares during the period. 74.35% of the stock is currently owned by institutional investors.

About QUALCOMM

(Get Free Report)

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.

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