QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.2% – Here’s What Happened

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price traded down 0.2% on Thursday . The company traded as low as $157.35 and last traded at $159.07. 678,321 shares traded hands during trading, a decline of 92% from the average session volume of 8,934,963 shares. The stock had previously closed at $159.36.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Evercore ISI increased their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. UBS Group boosted their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. Finally, Morgan Stanley reduced their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.

QUALCOMM Stock Down 0.8 %

The company has a market cap of $174.69 billion, a PE ratio of 17.49, a PEG ratio of 2.65 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The firm has a fifty day simple moving average of $162.12 and a 200 day simple moving average of $174.45.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Equities research analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, December 5th. QUALCOMM’s payout ratio is currently 37.82%.

Insider Buying and Selling at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,127 shares of company stock valued at $6,710,055. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

A number of large investors have recently modified their holdings of the stock. Wedge Capital Management L L P NC lifted its position in shares of QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after purchasing an additional 51,879 shares in the last quarter. Icon Wealth Advisors LLC lifted its holdings in QUALCOMM by 123.2% in the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after buying an additional 18,315 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of QUALCOMM by 39.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock valued at $30,068,000 after acquiring an additional 50,438 shares in the last quarter. Aljian Capital Management LLC purchased a new stake in shares of QUALCOMM during the third quarter worth about $1,820,000. Finally, Captrust Financial Advisors lifted its stake in shares of QUALCOMM by 4.6% in the third quarter. Captrust Financial Advisors now owns 664,330 shares of the wireless technology company’s stock worth $112,969,000 after acquiring an additional 29,287 shares in the last quarter. Institutional investors and hedge funds 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.