QUALCOMM (NASDAQ:QCOM) Stock Price Down 1.5%

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price traded down 1.5% during mid-day trading on Thursday . The company traded as low as $173.35 and last traded at $178.38. 4,866,002 shares were traded during mid-day trading, a decline of 47% from the average session volume of 9,150,092 shares. The stock had previously closed at $181.07.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Piper Sandler raised their price target on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Wells Fargo & Company lifted their price objective on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. lifted their target price on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Evercore ISI assumed coverage on QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $199.63.

QUALCOMM Stock Up 2.7 %

The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The firm has a market cap of $200.94 billion, a PE ratio of 24.20, a P/E/G ratio of 2.13 and a beta of 1.27. The business has a fifty day moving average price of $204.19 and a two-hundred day moving average price of $177.00.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. On average, analysts anticipate that QUALCOMM Incorporated will post 7.84 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Transactions at QUALCOMM

In other news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the sale, the director now owns 54 shares in the company, valued at approximately $9,623.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $180.69, for a total value of $542,070.00. Following the completion of the transaction, the chief financial officer now owns 66,343 shares of the company’s stock, valued at approximately $11,987,516.67. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,185 shares of company stock worth $8,552,835. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

Large investors have recently added to or reduced their stakes in the company. Peoples Bank OH acquired a new position in QUALCOMM in the 4th quarter valued at approximately $219,000. Bank Hapoalim BM raised its holdings in QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after acquiring an additional 9,192 shares in the last quarter. NewEdge Wealth LLC raised its holdings in QUALCOMM by 120.2% in the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after acquiring an additional 11,285 shares in the last quarter. Alexander Randolph Advisory Inc. bought a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $305,000. Finally, City Holding Co. grew its stake in shares of QUALCOMM by 3.5% in the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after purchasing an additional 199 shares during the period. Institutional investors and hedge funds 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.