QUALCOMM (NASDAQ:QCOM) Given New $185.00 Price Target at Citigroup

QUALCOMM (NASDAQ:QCOM) had its price target cut by Citigroup from $200.00 to $185.00 in a report issued on Wednesday, MarketBeat.com reports. They currently have a neutral rating on the wireless technology company’s stock.

QCOM has been the topic of a number of other reports. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Susquehanna raised their target price on shares of QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. dropped their target price on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $208.75.

QUALCOMM Stock Performance

Shares of QCOM opened at $171.48 on Wednesday. The company has a 50-day simple moving average of $168.86 and a two-hundred day simple moving average of $182.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The firm has a market capitalization of $191.37 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. QUALCOMM has a one year low of $104.33 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, analysts anticipate that QUALCOMM will post 8.02 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. QUALCOMM’s payout ratio is currently 45.70%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in QCOM. Pine Haven Investment Counsel Inc raised its stake in QUALCOMM by 2.5% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after acquiring an additional 50 shares during the period. Buffington Mohr McNeal lifted its stake in shares of QUALCOMM by 3.9% during the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock valued at $279,000 after buying an additional 53 shares in the last quarter. TRUE Private Wealth Advisors boosted its holdings in QUALCOMM by 2.2% in the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after buying an additional 57 shares during the period. Macroview Investment Management LLC increased its stake in QUALCOMM by 10.5% in the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after buying an additional 57 shares in the last quarter. Finally, McClarren Financial Advisors Inc. raised its holdings in QUALCOMM by 43.2% during the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after acquiring an additional 60 shares during the period. 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.