QUALCOMM (NASDAQ:QCOM) Stock Price Up 0.1% – Time to Buy?

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price was up 0.1% during trading on Tuesday . The stock traded as high as $161.05 and last traded at $160.31. Approximately 769,513 shares were traded during trading, a decline of 91% from the average daily volume of 8,227,772 shares. The stock had previously closed at $160.08.

Analyst Ratings Changes

A number of research firms have weighed in on QCOM. Barclays cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Melius Research initiated 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, Evercore ISI reduced their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Performance

The stock has a 50-day simple moving average of $164.47 and a 200-day simple moving average of $163.92. The stock has a market cap of $174.76 billion, a P/E ratio of 16.88, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

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

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,337 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the sale, the chief financial officer now owns 59,778 shares in the company, valued at $9,374,385.96. This represents a 5.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Street Partners LLC raised its holdings in shares of QUALCOMM by 91.9% in the 3rd quarter. Principal Street Partners LLC now owns 2,303 shares of the wireless technology company’s stock worth $392,000 after purchasing an additional 1,103 shares during the period. Cadence Bank increased its position in QUALCOMM by 1.2% in the third quarter. Cadence Bank now owns 65,385 shares of the wireless technology company’s stock worth $11,119,000 after buying an additional 781 shares during the last quarter. Townsquare Capital LLC raised its stake in QUALCOMM by 11.8% in the 3rd quarter. Townsquare Capital LLC now owns 151,650 shares of the wireless technology company’s stock valued at $25,788,000 after acquiring an additional 16,054 shares during the period. Capital Counsel LLC NY lifted its stake in shares of QUALCOMM by 1.7% during the 3rd quarter. Capital Counsel LLC NY now owns 583,346 shares of the wireless technology company’s stock valued at $99,198,000 after buying an additional 9,669 shares in the last quarter. Finally, Freedom Investment Management Inc. boosted its holdings in shares of QUALCOMM by 11.5% in the third quarter. Freedom Investment Management Inc. now owns 16,182 shares of the wireless technology company’s stock worth $2,752,000 after acquiring an additional 1,667 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

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.