QUALCOMM Target of Unusually High Options Trading (NASDAQ:QCOM)

QUALCOMM Incorporated (NASDAQ:QCOM) was the target of some unusual options trading activity on Tuesday. Traders bought 55,309 call options on the stock. This is an increase of approximately 18% compared to the average daily volume of 46,890 call options.

QUALCOMM Stock Down 3.5%

QCOM stock opened at $181.03 on Wednesday. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The stock has a market cap of $195.33 billion, a P/E ratio of 17.46, a PEG ratio of 2.72 and a beta of 1.23. The company’s 50 day moving average is $164.47 and its two-hundred day moving average is $155.83. QUALCOMM has a twelve month low of $120.80 and a twelve month high of $205.95.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.06. The business had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $2.33 earnings per share. Research analysts expect that QUALCOMM will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, December 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.0%. QUALCOMM’s dividend payout ratio (DPR) is 34.33%.

Insiders Place Their Bets

In other news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the transaction, the insider owned 21,193 shares of the company’s stock, valued at approximately $3,102,655.20. This trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 8,335 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $166.06, for a total transaction of $1,384,110.10. Following the completion of the transaction, the chief financial officer directly owned 36,541 shares of the company’s stock, valued at approximately $6,067,998.46. The trade was a 18.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 168,102 shares of company stock valued at $27,706,855. 0.08% of the stock is owned by company insiders.

Hedge Funds Weigh In On QUALCOMM

A number of hedge funds have recently modified their holdings of the business. Evergreen Capital Management LLC grew its position in shares of QUALCOMM by 3.2% during the third quarter. Evergreen Capital Management LLC now owns 114,610 shares of the wireless technology company’s stock worth $19,067,000 after acquiring an additional 3,572 shares during the last quarter. Phoenix Wealth Advisors purchased a new position in shares of QUALCOMM during the third quarter worth approximately $214,000. Sterling Investment Advisors Ltd. purchased a new position in shares of QUALCOMM during the third quarter worth approximately $202,000. Minneapolis Portfolio Management Group LLC grew its position in shares of QUALCOMM by 1.2% during the third quarter. Minneapolis Portfolio Management Group LLC now owns 161,279 shares of the wireless technology company’s stock worth $26,830,000 after acquiring an additional 1,990 shares during the last quarter. Finally, 4WEALTH Advisors Inc. grew its position in shares of QUALCOMM by 6.8% during the third quarter. 4WEALTH Advisors Inc. now owns 4,792 shares of the wireless technology company’s stock worth $797,000 after acquiring an additional 306 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on QCOM shares. Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Citigroup raised their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday. Arete Research set a $200.00 target price on shares of QUALCOMM in a report on Tuesday, August 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a report on Tuesday. Finally, Piper Sandler reduced their target price on shares of QUALCOMM from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.95.

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.