QUALCOMM (NASDAQ:QCOM) Shares Down 1.3% – What’s Next?

QUALCOMM Incorporated (NASDAQ:QCOM) dropped 1.3% during mid-day trading on Thursday . The stock traded as low as $150.89 and last traded at $151.00. Approximately 2,113,527 shares were traded during trading, a decline of 76% from the average daily volume of 8,932,315 shares. The stock had previously closed at $153.05.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on QCOM. Wells Fargo & Company raised their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. UBS Group lifted their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. Finally, Evercore ISI increased their price objective on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.

QUALCOMM Trading Up 1.7 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company’s 50 day simple moving average is $163.57 and its two-hundred day simple moving average is $176.18. The company has a market cap of $169.86 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.90 billion. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a dividend of $0.85 per share. The ex-dividend date was Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.22%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,127 shares of company stock valued at $6,710,055 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Institutional Trading of QUALCOMM

A number of large investors have recently modified their holdings of QCOM. Lantz Financial LLC bought a new position in QUALCOMM during the 2nd quarter valued at $234,000. LRI Investments LLC boosted its position in shares of QUALCOMM by 601.2% during the 2nd quarter. LRI Investments LLC now owns 1,823 shares of the wireless technology company’s stock valued at $363,000 after purchasing an additional 1,563 shares in the last quarter. McAdam LLC grew its stake in shares of QUALCOMM by 6.8% in the 2nd quarter. McAdam LLC now owns 1,704 shares of the wireless technology company’s stock worth $339,000 after purchasing an additional 109 shares during the last quarter. WT Asset Management Ltd acquired a new stake in QUALCOMM during the second quarter valued at approximately $17,866,000. Finally, Calamos Wealth Management LLC increased its holdings in shares of QUALCOMM by 7.0% in the second quarter. Calamos Wealth Management LLC now owns 2,110 shares of the wireless technology company’s stock valued at $420,000 after buying an additional 138 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.