QUALCOMM (NASDAQ:QCOM) Trading 0.1% Higher – Here’s Why

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) shot up 0.1% during mid-day trading on Thursday . The company traded as high as $159.10 and last traded at $158.52. 1,182,264 shares were traded during trading, a decline of 86% from the average session volume of 8,194,283 shares. The stock had previously closed at $158.39.

Analysts Set New Price Targets

QCOM has been the topic of several research analyst reports. Melius Research initiated coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Evercore ISI reduced their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Mizuho dropped their target price 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, Piper Sandler lowered their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One investment 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 stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Down 0.6 %

The business’s 50-day moving average is $164.47 and its 200-day moving average is $163.92. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $174.12 billion, a price-to-earnings ratio of 16.82, a P/E/G ratio of 2.01 and a beta of 1.28.

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

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.16%. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insider Activity at QUALCOMM

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

Institutional Investors Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM in the 4th quarter worth $26,000. Banque Transatlantique SA acquired a new stake in QUALCOMM during the fourth quarter worth about $26,000. CKW Financial Group purchased a new position in QUALCOMM during the fourth quarter worth about $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $29,000. Finally, Sunbeam Capital Management LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $29,000. 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.