QUALCOMM (NASDAQ:QCOM) Stock Price Down 0% – What’s Next?

QUALCOMM Incorporated (NASDAQ:QCOM) shares fell 0% on Tuesday . The stock traded as low as $169.93 and last traded at $171.12. 2,406,663 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 7,304,363 shares. The stock had previously closed at $171.18.

Analysts Set New Price Targets

A number of equities analysts recently commented on QCOM shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Wednesday, November 20th. Evercore ISI lifted their target price on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Melius Research assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Morgan Stanley lowered their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Trading Up 0.1 %

The business’s 50-day simple moving average is $160.11 and its 200-day simple moving average is $166.88. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The company has a market cap of $191.01 billion, a PE ratio of 19.12, a P/E/G ratio of 2.84 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. As a group, analysts expect that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.98%. QUALCOMM’s dividend payout ratio is 37.82%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were 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 owns 19,739 shares in the company, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Institutional investors have recently modified their holdings of the company. Reston Wealth Management LLC bought a new stake in QUALCOMM during the 3rd quarter worth about $26,000. CKW Financial Group acquired a new stake in QUALCOMM during the 4th quarter worth approximately $27,000. Planning Capital Management Corp increased its position in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the period. Accordant Advisory Group Inc acquired a new stake in QUALCOMM in the 3rd quarter worth about $36,000. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM during the fourth quarter worth approximately $38,000. 74.35% of the stock is currently owned by institutional investors.

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.