QUALCOMM (NASDAQ:QCOM) Shares Down 0.1% – Here’s What Happened

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) dropped 0.1% on Thursday . The stock traded as low as $170.97 and last traded at $171.54. Approximately 1,125,478 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 7,206,715 shares. The stock had previously closed at $171.71.

Wall Street Analysts Forecast Growth

Several research firms have commented on QCOM. Susquehanna lowered their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Sanford C. Bernstein raised their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Mizuho cut their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 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. Finally, Morgan Stanley cut their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. 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 issued a strong buy rating to the company. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $206.57.

QUALCOMM Trading Up 0.6 %

The business’s 50-day simple moving average is $160.76 and its 200-day simple moving average is $166.67. The company has a market cap of $192.13 billion, a PE ratio of 19.24, a P/E/G ratio of 2.85 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) 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 business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. As a group, analysts expect that QUALCOMM Incorporated will post 9.16 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was 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 of the company’s stock, valued at $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the sale, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock worth $4,314,649 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QUALCOMM

A number of hedge funds have recently bought and sold shares of the company. Reston Wealth Management LLC bought a new stake in QUALCOMM during the 3rd quarter valued at approximately $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $27,000. Planning Capital Management Corp grew its stake in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares during the last quarter. Accordant Advisory Group Inc bought a new position in QUALCOMM during the third quarter worth $36,000. Finally, Synergy Asset Management LLC acquired a new position in QUALCOMM during the 4th quarter valued at $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.