QUALCOMM (NASDAQ:QCOM) Shares Down 0.8% – Should You Sell?

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded down 0.8% on Thursday . The company traded as low as $173.55 and last traded at $173.83. 1,281,614 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 7,484,154 shares. The stock had previously closed at $175.22.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on QCOM. Melius started coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Barclays decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Benchmark reiterated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Evercore ISI decreased their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Finally, Sanford C. Bernstein increased their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Trading Down 4.8 %

The company has a 50 day simple moving average of $164.46 and a 200 day simple moving average of $165.72. The company has a market capitalization of $182.97 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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%. Analysts anticipate that QUALCOMM Incorporated will post 9.39 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. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. This represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,708 shares of company stock valued at $7,713,734. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Institutional investors and hedge funds have recently bought and sold shares of the company. American Trust lifted its holdings in QUALCOMM by 57.2% in the fourth quarter. American Trust now owns 2,720 shares of the wireless technology company’s stock valued at $418,000 after acquiring an additional 990 shares during the last quarter. Ascent Group LLC raised its position in QUALCOMM by 9.4% in the fourth quarter. Ascent Group LLC now owns 10,574 shares of the wireless technology company’s stock valued at $1,624,000 after purchasing an additional 909 shares during the period. Putney Financial Group LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $329,000. Vermillion Wealth Management Inc. purchased a new position in shares of QUALCOMM during the 4th quarter worth $144,000. Finally, Forum Financial Management LP increased its position in shares of QUALCOMM by 20.6% during the 4th quarter. Forum Financial Management LP now owns 7,417 shares of the wireless technology company’s stock worth $1,139,000 after purchasing an additional 1,265 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.