QUALCOMM (NASDAQ:QCOM) Trading Down 0.2% – What’s Next?

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price was down 0.2% during mid-day trading on Wednesday . The stock traded as low as $150.37 and last traded at $152.72. Approximately 1,019,131 shares traded hands during trading, a decline of 88% from the average daily volume of 8,571,768 shares. The stock had previously closed at $153.05.

Analyst Ratings Changes

QCOM has been the topic of several recent analyst reports. Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Melius Research began coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Barclays decreased their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Mizuho cut their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Performance

The firm has a market capitalization of $171.62 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock’s 50-day moving average is $163.66 and its 200-day moving average is $163.64.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares of the company’s stock, valued at $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,968 shares of company stock worth $4,685,077. Company insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of QUALCOMM in the 4th quarter valued at about $2,721,882,000. Amundi lifted its holdings in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in QUALCOMM in the 4th quarter valued at $527,053,000. Geode Capital Management LLC lifted its stake in shares of QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after buying an additional 1,989,725 shares in the last quarter. Finally, Northern Trust Corp increased its position 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 acquiring an additional 1,493,076 shares in the last quarter. Institutional investors 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.