QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) shares dropped 0.2% on Wednesday . The company traded as low as $150.37 and last traded at $152.72. Approximately 1,019,131 shares traded hands during trading, a decline of 88% from the average daily volume of 8,571,768 shares. The stock had previously closed at $153.05.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. Mizuho dropped their price target on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Melius 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. Cantor Fitzgerald restated a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Benchmark reiterated a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Finally, Melius Research began coverage on QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 price target on the stock. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of "Moderate Buy" and an average target price of $205.32.
Check Out Our Latest Stock Report on QCOM
QUALCOMM Price Performance
The business has a fifty day moving average price of $161.74 and a 200 day moving average price of $163.13. The company has a market cap of $140.97 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.
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QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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%. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.
QUALCOMM Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.85 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.67%. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.
Insider Activity
In other news, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 20,762 shares of the company's stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred 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 owns 24,393 shares in the company, 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. In the last ninety days, insiders sold 27,968 shares of company stock worth $4,685,077. Insiders own 0.08% of the company's stock.
Institutional Trading of QUALCOMM
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Farmers Trust Co. grew its position in shares of QUALCOMM by 29.9% in the 1st quarter. Farmers Trust Co. now owns 4,074 shares of the wireless technology company's stock valued at $626,000 after buying an additional 938 shares during the last quarter. Sage Capital Advisors llc boosted its holdings in QUALCOMM by 1.8% in the first quarter. Sage Capital Advisors llc now owns 17,196 shares of the wireless technology company's stock valued at $2,642,000 after acquiring an additional 300 shares during the last quarter. Moody National Bank Trust Division increased its position in QUALCOMM by 1.9% during the 1st quarter. Moody National Bank Trust Division now owns 17,887 shares of the wireless technology company's stock valued at $2,748,000 after purchasing an additional 333 shares during the period. Legacy Private Trust Co. increased its position in QUALCOMM by 29.4% during the 1st quarter. Legacy Private Trust Co. now owns 13,493 shares of the wireless technology company's stock valued at $2,073,000 after purchasing an additional 3,065 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of QUALCOMM by 223.6% in the 1st quarter. Versant Capital Management Inc now owns 5,543 shares of the wireless technology company's stock worth $851,000 after purchasing an additional 3,830 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.
QUALCOMM Company Profile
(Get Free Report)
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.
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