QUALCOMM (NASDAQ:QCOM) Shares Down 2.7% – Should You Sell?

QUALCOMM Incorporated (NASDAQ:QCOM) was down 2.7% during trading on Friday . The company traded as low as $153.67 and last traded at $153.69. Approximately 1,219,186 shares changed hands during trading, a decline of 85% from the average daily volume of 8,196,183 shares. The stock had previously closed at $157.97.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Evercore ISI cut their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Melius Research began coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Stock Performance

The firm has a market capitalization of $168.91 billion, a P/E ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28. The company has a 50-day simple moving average of $164.16 and a two-hundred day simple moving average of $163.84. 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 released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Insider Buying and Selling

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now directly owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. 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 the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares of the company’s stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock valued at $4,685,077 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Institutional investors and hedge funds have recently bought and sold shares of the company. Mascagni Wealth Management Inc. purchased a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $30,000. Fairtree Asset Management Pty Ltd bought a new position in QUALCOMM in the 4th quarter valued at approximately $1,704,000. DSG Capital Advisors LLC purchased a new stake in QUALCOMM during the 4th quarter valued at $1,601,000. Chancellor Financial Group WB LP bought a new stake in shares of QUALCOMM in the 4th quarter worth $224,000. Finally, 111 Capital bought a new position in shares of QUALCOMM during the fourth quarter valued at $4,716,000. 74.35% of the stock is currently owned by 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.