QUALCOMM (NASDAQ:QCOM) Shares Up 0.7%

QUALCOMM Incorporated (NASDAQ:QCOM) was up 0.7% during trading on Wednesday . The stock traded as high as $169.48 and last traded at $168.18. Approximately 1,474,735 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 8,986,646 shares. The stock had previously closed at $167.07.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on QCOM shares. Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research note on Thursday, February 1st. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Barclays upped their price objective on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Mizuho boosted their price target on shares of QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Morgan Stanley lowered shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $119.00 to $132.00 in a research report on Friday, December 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.71.

QUALCOMM Stock Up 0.1 %

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The company has a market cap of $188.94 billion, a P/E ratio of 24.54, a P/E/G ratio of 2.31 and a beta of 1.41. The stock has a 50 day moving average price of $157.64 and a 200 day moving average price of $135.88.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. Research analysts expect that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were given a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.20 annualized dividend and a yield of 1.89%. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

Insider Activity

In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction 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 transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $169.60, for a total value of $1,373,760.00. Following the completion of the sale, the chief executive officer now owns 16,200 shares in the company, valued at approximately $2,747,520. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,360 shares of company stock worth $5,457,048. Insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Several hedge funds and other institutional investors have recently modified their holdings of the business. Cassaday & Co Wealth Management LLC grew its stake in QUALCOMM by 1.2% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock valued at $831,000 after acquiring an additional 66 shares in the last quarter. Glass Jacobson Investment Advisors llc boosted its holdings in shares of QUALCOMM by 6.5% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after purchasing an additional 68 shares during the period. Chilton Capital Management LLC grew its position in QUALCOMM by 1.9% during the fourth quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock valued at $544,000 after purchasing an additional 70 shares in the last quarter. Means Investment CO. Inc. increased its stake in QUALCOMM by 1.2% in the 4th quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock valued at $838,000 after buying an additional 71 shares during the period. Finally, Mission Creek Capital Partners Inc. lifted its position in QUALCOMM by 0.3% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 21,728 shares of the wireless technology company’s stock worth $3,142,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

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.