QUALCOMM Incorporated (NASDAQ:QCOM) Given Consensus Recommendation of “Hold” by Brokerages

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) have received a consensus recommendation of “Hold” from the twenty-six analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $186.00.

A number of brokerages recently commented on QCOM. TD Cowen dropped their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Benchmark dropped their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Loop Capital dropped their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Evercore ISI dropped their target price on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the transaction, the chief financial officer directly owned 46,446 shares of the company’s stock, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred 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 transaction, the insider directly owned 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock valued at $8,310,735 in the last three months. 0.08% of the stock is owned by insiders.

Institutional Trading of QUALCOMM

Institutional investors and hedge funds have recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC raised its stake in shares of QUALCOMM by 656,661.0% during the second quarter. Kingstone Capital Partners Texas LLC now owns 58,773,542 shares of the wireless technology company’s stock worth $9,360,274,000 after purchasing an additional 58,764,593 shares during the last quarter. Norges Bank purchased a new stake in shares of QUALCOMM during the fourth quarter worth approximately $2,721,882,000. Nuveen LLC purchased a new stake in shares of QUALCOMM during the first quarter worth approximately $529,713,000. GAMMA Investing LLC raised its stake in shares of QUALCOMM by 20,700.4% during the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock worth $501,192,000 after purchasing an additional 3,247,068 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Up 1.4%

Shares of QCOM opened at $154.80 on Friday. The company’s fifty day moving average is $153.95 and its 200 day moving average is $154.98. QUALCOMM has a fifty-two week low of $120.80 and a fifty-two week high of $196.24. The stock has a market capitalization of $169.97 billion, a PE ratio of 15.76, a P/E/G ratio of 2.00 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73.

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, beating analysts’ consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business’s revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.44 earnings per share. Sell-side analysts expect that QUALCOMM will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.30%. QUALCOMM’s dividend payout ratio is currently 36.25%.

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.