QUALCOMM (NASDAQ:QCOM) Shares Down 3.7%

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price was down 3.7% on Monday . The stock traded as low as $203.50 and last traded at $204.69. Approximately 3,644,367 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 9,166,717 shares. The stock had previously closed at $212.53.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on QCOM shares. Argus raised their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Canaccord Genuity Group raised their price target on shares of QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. raised their price target on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Benchmark reaffirmed a “buy” rating and set a $200.00 target price on shares of QUALCOMM in a research note on Friday, May 3rd. Finally, Mizuho increased their price target on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $192.13.

QUALCOMM Price Performance

The stock’s fifty day moving average price is $193.66 and its two-hundred day moving average price is $168.40. The firm has a market capitalization of $220.14 billion, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 2.46 and a beta of 1.30. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. Equities research analysts expect that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.72%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Activity at QUALCOMM

In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now directly owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the sale, the director now owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock valued at $8,206,875 in the last ninety days. Insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. lifted its stake in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the period. WFA Asset Management Corp acquired a new position in QUALCOMM during the first quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. raised its position in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after acquiring an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in QUALCOMM during the fourth quarter worth about $32,000. Finally, Cherry Tree Wealth Management LLC raised its position in QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 115 shares during 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.