QUALCOMM (NASDAQ:QCOM) Trading Down 0.8% – Here’s Why

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price dropped 0.8% on Thursday . The stock traded as low as $154.09 and last traded at $156.43. Approximately 1,461,266 shares were traded during trading, a decline of 82% from the average daily volume of 8,325,586 shares. The stock had previously closed at $157.64.

Analyst Ratings Changes

Several equities analysts have recently commented on QCOM shares. Susquehanna lowered their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Melius Research started coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Melius started coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Piper Sandler lowered their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Trading Up 3.3 %

The stock’s fifty day moving average price is $164.76 and its 200 day moving average price is $165.14. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a market capitalization of $178.31 billion, a P/E ratio of 17.22, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 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%. Research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is presently 36.32%.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the sale, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at $9,374,385.96. This represents a 5.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was 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 approximately $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,045 shares of company stock worth $7,752,423. Insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Hedge funds have recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM in the fourth quarter worth about $26,000. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM during the fourth quarter valued at about $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM during the fourth quarter valued at about $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter valued at about $29,000. Finally, Sunbeam Capital Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter valued at about $29,000. 74.35% of the stock is owned by hedge funds and other 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.