QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.6%

QUALCOMM Incorporated (NASDAQ:QCOM) traded down 0.6% on Thursday . The stock traded as low as $159.86 and last traded at $163.29. 2,418,555 shares traded hands during trading, a decline of 72% from the average session volume of 8,522,895 shares. The stock had previously closed at $164.32.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Barclays raised their target price on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Piper Sandler lifted their price objective on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Susquehanna lifted their price objective on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. TD Cowen lifted their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $156.90.

QUALCOMM Stock Down 2.4 %

The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $164.87 and a two-hundred day simple moving average of $142.66. The company has a market capitalization of $175.92 billion, a price-to-earnings ratio of 22.84, a P/E/G ratio of 2.20 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Equities analysts expect that QUALCOMM Incorporated will post 7.69 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s payout ratio is presently 46.38%.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the sale, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock valued at $5,973,728 in the last three months. 0.08% of the stock is owned by corporate insiders.

Institutional Trading of QUALCOMM

A number of large investors have recently made changes to their positions in QCOM. Fairfield Bush & CO. lifted its stake in QUALCOMM by 1.3% in the 1st quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock valued at $4,712,000 after purchasing an additional 390 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in QUALCOMM by 12.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock valued at $338,027,000 after purchasing an additional 245,335 shares during the last quarter. Merit Financial Group LLC lifted its stake in QUALCOMM by 25.2% in the 1st quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock valued at $422,000 after purchasing an additional 555 shares during the last quarter. NewEdge Advisors LLC lifted its stake in QUALCOMM by 23.8% in the 1st quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock valued at $6,745,000 after purchasing an additional 8,472 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in QUALCOMM by 30.4% in the 1st quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock valued at $52,378,000 after purchasing an additional 79,827 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

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.