QUALCOMM (NASDAQ:QCOM) Trading Up 0.1% – What’s Next?

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price was up 0.1% during trading on Thursday . The stock traded as high as $159.10 and last traded at $158.52. Approximately 1,182,264 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 8,194,283 shares. The stock had previously closed at $158.39.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Melius Research assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued 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 report on Thursday, February 6th. Barclays dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Piper Sandler decreased their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Down 0.6 %

The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $174.12 billion, a PE ratio of 16.82, a PEG ratio of 2.01 and a beta of 1.28. The firm’s fifty day moving average is $164.47 and its 200-day moving average is $163.92.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

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 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the firm’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 transaction, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,968 shares of company stock valued at $4,685,077. Corporate insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Nordea Investment Management AB increased its position in QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after buying an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after purchasing an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in QUALCOMM in the 4th quarter valued at about $2,058,000. Burney Co. lifted its holdings in QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after purchasing an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC purchased a new position in QUALCOMM in the 4th quarter valued at about $240,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

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.