QUALCOMM (NASDAQ:QCOM) Trading Up 0% – What’s Next?

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price shot up 0% during trading on Tuesday . The company traded as high as $155.84 and last traded at $154.65. 495,308 shares were traded during trading, a decline of 94% from the average session volume of 8,893,289 shares. The stock had previously closed at $154.58.

Wall Street Analyst Weigh In

A number of research firms have commented on QCOM. Citigroup decreased their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Loop Capital began coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price target on the stock. Melius began coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Sanford C. Bernstein upped their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, UBS Group upped their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $208.00.

QUALCOMM Stock Performance

The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average of $161.18 and a 200-day moving average of $172.91. The stock has a market cap of $170.67 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (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 firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Buying and Selling

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

Institutional Investors Weigh In On QUALCOMM

Hedge funds and other institutional investors have recently modified their holdings of the stock. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter valued at approximately $26,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM during the 2nd quarter valued at approximately $30,000. Planning Capital Management Corp lifted its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the period. Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM during the 3rd quarter valued at approximately $36,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter valued at approximately $39,000. 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.