QUALCOMM (NASDAQ:QCOM) Trading 0.4% Higher – Still a Buy?

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded up 0.4% during mid-day trading on Tuesday . The company traded as high as $173.58 and last traded at $172.87. 1,484,008 shares changed hands during trading, a decline of 80% from the average session volume of 7,513,628 shares. The stock had previously closed at $172.23.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on QCOM. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Barclays lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. UBS Group raised their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. One investment 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Trading Down 0.9 %

The company has a 50 day simple moving average of $164.01 and a two-hundred day simple moving average of $165.61. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market cap of $192.11 billion, a PE ratio of 18.56, a PEG ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.96%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is currently 36.32%.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the 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. This represents a 48.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,239,273.03. Following the completion of the sale, the general counsel now owns 17,153 shares of the company’s stock, valued at approximately $2,754,600.27. This trade represents a 31.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,964 shares of company stock valued at $7,583,661 in the last three months. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Reston Wealth Management LLC bought a new position in QUALCOMM in the 3rd quarter worth $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at about $26,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM in the fourth quarter worth about $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM during the 4th quarter worth about $27,000. Finally, Centricity Wealth Management LLC bought a new stake in QUALCOMM during the 4th quarter valued at approximately $29,000. 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.