QUALCOMM (NASDAQ:QCOM) Trading Up 1.1% – What’s Next?

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) shot up 1.1% during mid-day trading on Friday . The stock traded as high as $156.18 and last traded at $155.26. 1,041,910 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 2,917,179 shares. The stock had previously closed at $153.64.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein lifted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Melius assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. UBS Group raised their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Susquehanna dropped their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. One 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $208.00.

QUALCOMM Trading Up 3.1 %

The company has a market cap of $175.92 billion, a PE ratio of 17.61, a PEG ratio of 2.65 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average price of $160.89 and a 200 day moving average price of $172.78.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

A number of hedge funds have recently made changes to their positions in QCOM. Wedge Capital Management L L P NC raised its position in QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after acquiring an additional 51,879 shares in the last quarter. Icon Wealth Advisors LLC boosted its holdings in QUALCOMM by 123.2% during the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after buying an additional 18,315 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of QUALCOMM by 39.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock valued at $30,068,000 after acquiring an additional 50,438 shares during the period. Aljian Capital Management LLC purchased a new position in shares of QUALCOMM in the 3rd quarter valued at about $1,820,000. Finally, Captrust Financial Advisors boosted its position in QUALCOMM by 4.6% during the third quarter. Captrust Financial Advisors now owns 664,330 shares of the wireless technology company’s stock worth $112,969,000 after purchasing an additional 29,287 shares in the last quarter. 74.35% of the stock is currently 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.