QUALCOMM (NASDAQ:QCOM) Stock Price Down 1.1%

QUALCOMM Incorporated (NASDAQ:QCOM) was down 1.1% during trading on Tuesday . The company traded as low as $167.95 and last traded at $167.98. Approximately 1,456,188 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 8,542,885 shares. The stock had previously closed at $169.84.

Analysts Set New Price Targets

A number of research analysts recently commented on QCOM shares. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research report on Thursday, February 1st. Evercore ISI started coverage on QUALCOMM in a research report on Tuesday. They issued an “in-line” rating and a $177.00 price target on the stock. Canaccord Genuity Group raised their price target on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. Susquehanna raised their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Finally, Piper Sandler lifted their target price on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.90.

QUALCOMM Stock Performance

The company has a market capitalization of $183.38 billion, a P/E ratio of 23.81, a PEG ratio of 2.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The company has a fifty day moving average price of $164.47 and a two-hundred day moving average price of $142.20.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Equities analysts forecast that QUALCOMM Incorporated will post 7.69 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.07%. QUALCOMM’s payout ratio is 46.38%.

Insider Activity

In related news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the sale, the chief executive officer now owns 32,400 shares in the company, valued at $4,843,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold a total of 44,360 shares of company stock worth $7,184,678 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. boosted its position in shares of QUALCOMM by 1.3% during the 1st quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock valued at $4,712,000 after acquiring an additional 390 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of QUALCOMM by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock valued at $338,027,000 after acquiring an additional 245,335 shares during the last quarter. Merit Financial Group LLC boosted its position in shares of QUALCOMM by 25.2% during the 1st quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock valued at $422,000 after acquiring an additional 555 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of QUALCOMM by 23.8% during the 1st quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock valued at $6,745,000 after acquiring an additional 8,472 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of QUALCOMM by 30.4% during the 1st quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock valued at $52,378,000 after acquiring an additional 79,827 shares during the last quarter. Institutional investors 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.