QUALCOMM (NASDAQ:QCOM) Trading 0.6% Higher – What’s Next?

QUALCOMM Incorporated (NASDAQ:QCOM) shares were up 0.6% during mid-day trading on Thursday . The company traded as high as $171.42 and last traded at $171.24. Approximately 1,661,198 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 6,793,774 shares. The stock had previously closed at $170.24.

Analyst Ratings Changes

Several analysts recently commented on QCOM shares. Melius Research began coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Susquehanna lowered their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. UBS Group lifted their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Barclays cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Evercore ISI raised their price target on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $206.57.

QUALCOMM Trading Down 1.3 %

The business has a 50 day simple moving average of $159.49 and a 200-day simple moving average of $167.83. The stock has a market capitalization of $191.21 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 2.84 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.14 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,882 shares of company stock valued at $4,314,649. Company insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Paulson Wealth Management Inc. boosted its stake in shares of QUALCOMM by 2.2% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock worth $475,000 after acquiring an additional 61 shares during the last quarter. Blossom Wealth Management increased its stake in shares of QUALCOMM by 2.6% in the 3rd quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after purchasing an additional 64 shares in the last quarter. Delta Financial Advisors LLC grew its holdings in QUALCOMM by 2.1% during the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after purchasing an additional 65 shares during the period. CFS Investment Advisory Services LLC increased its position in QUALCOMM by 1.1% in the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock worth $929,000 after buying an additional 65 shares in the last quarter. Finally, Toth Financial Advisory Corp raised its stake in shares of QUALCOMM by 3.1% in the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after buying an additional 65 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.