QUALCOMM (NASDAQ:QCOM) Shares Up 1.2% – Here’s What Happened

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) shot up 1.2% on Monday . The company traded as high as $170.88 and last traded at $169.93. 1,533,165 shares changed hands during trading, a decline of 80% from the average session volume of 7,834,409 shares. The stock had previously closed at $167.96.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent research reports. Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. UBS Group boosted their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Benchmark reissued a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Mizuho dropped their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, Susquehanna reduced their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. One 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Down 1.0 %

The firm has a market cap of $188.34 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The firm’s 50-day moving average price is $162.50 and its 200 day moving average price is $165.47. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, research analysts expect that QUALCOMM Incorporated will post 9.19 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm 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 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 yield of 2.00%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Activity

In other news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on Monday, February 10th. The shares were 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 of the company’s stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,268 shares of company stock valued at $7,276,381. Company insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Several institutional investors and hedge funds have recently bought and sold shares of QCOM. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM in the third quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $26,000. CKW Financial Group acquired a new position in QUALCOMM in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth $29,000. Finally, CoreFirst Bank & Trust bought a new position in QUALCOMM during the fourth quarter valued at about $33,000. Institutional investors and hedge funds 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.