QUALCOMM (NASDAQ:QCOM) Shares Down 0.1%

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price dropped 0.1% on Tuesday . The stock traded as low as $199.40 and last traded at $200.71. Approximately 2,863,046 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 9,217,457 shares. The stock had previously closed at $200.84.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several recent research reports. Piper Sandler boosted their target price on shares of QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Wolfe Research boosted their price objective on shares of QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Argus lifted their target price on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. upped their price target on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, HSBC lifted their price objective on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

QUALCOMM Price Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The firm has a fifty day simple moving average of $193.66 and a two-hundred day simple moving average of $168.40. The firm has a market cap of $220.22 billion, a PE ratio of 26.52, a PEG ratio of 2.46 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. Equities analysts predict that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.72%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Buying and Selling

In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the sale, the director now directly owns 5,902 shares in the company, valued at $1,185,947.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Neil Smit sold 3,069 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the sale, the director now owns 5,902 shares in the company, valued at approximately $1,185,947.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, April 1st. The stock was sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the transaction, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,185 shares of company stock worth $8,206,875. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Institutional investors have recently added to or reduced their stakes in the company. Grandview Asset Management LLC lifted its stake in shares of QUALCOMM by 2.3% during the 1st quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock worth $462,000 after acquiring an additional 62 shares during the last quarter. Cape Investment Advisory Inc. lifted its position in shares of QUALCOMM by 1.0% during the first quarter. Cape Investment Advisory Inc. now owns 6,537 shares of the wireless technology company’s stock worth $1,107,000 after purchasing an additional 62 shares during the last quarter. Tealwood Asset Management Inc. boosted its stake in shares of QUALCOMM by 0.6% during the first quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock valued at $1,676,000 after purchasing an additional 63 shares during the period. VERITY Wealth Advisors grew its holdings in shares of QUALCOMM by 0.8% in the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock worth $1,320,000 after purchasing an additional 64 shares during the last quarter. Finally, SlateStone Wealth LLC increased its stake in QUALCOMM by 1.7% in the 1st quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company’s stock worth $656,000 after buying an additional 65 shares during the period. 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.