QUALCOMM (NASDAQ:QCOM) Shares Down 0.7%

QUALCOMM Incorporated (NASDAQ:QCOM) dropped 0.7% during trading on Tuesday . The company traded as low as $168.03 and last traded at $168.04. Approximately 1,191,093 shares were traded during trading, a decline of 86% from the average daily volume of 8,410,144 shares. The stock had previously closed at $169.20.

Analysts Set New Price Targets

Several research firms recently commented on QCOM. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Citigroup downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a research note on Thursday, February 1st. TD Cowen raised their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Rosenblatt Securities upped their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, HSBC increased their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $160.68.

QUALCOMM Stock Performance

The firm’s fifty day moving average price is $166.17 and its two-hundred day moving average price is $145.34. The stock has a market capitalization of $185.09 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 2.05%. QUALCOMM’s dividend payout ratio is currently 46.38%.

Insider Activity

In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock worth $5,973,728 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Valued Wealth Advisors LLC increased its holdings in shares of QUALCOMM by 101.6% during the 1st quarter. Valued Wealth Advisors LLC now owns 260 shares of the wireless technology company’s stock worth $44,000 after buying an additional 131 shares during the last quarter. RF&L Wealth Management LLC grew its position in QUALCOMM by 3.7% in the first quarter. RF&L Wealth Management LLC now owns 3,894 shares of the wireless technology company’s stock worth $659,000 after acquiring an additional 140 shares during the period. Woodward Diversified Capital LLC increased its stake in QUALCOMM by 2.5% during the first quarter. Woodward Diversified Capital LLC now owns 4,478 shares of the wireless technology company’s stock worth $758,000 after acquiring an additional 110 shares during the last quarter. Warther Private Wealth LLC acquired a new position in shares of QUALCOMM in the 1st quarter valued at $346,000. Finally, Concord Wealth Partners grew its holdings in shares of QUALCOMM by 8.5% during the 1st quarter. Concord Wealth Partners now owns 6,730 shares of the wireless technology company’s stock worth $1,139,000 after purchasing an additional 528 shares during the period. 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.