QUALCOMM (NASDAQ:QCOM) Trading Down 0.6% – Time to Sell?

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price dropped 0.6% during trading on Wednesday . The stock traded as low as $153.21 and last traded at $153.62. Approximately 4,421,372 shares changed hands during trading, a decline of 50% from the average daily volume of 8,909,033 shares. The stock had previously closed at $154.58.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on QCOM. Evercore ISI increased their price target on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Wednesday, November 20th. Finally, Sanford C. Bernstein boosted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

QUALCOMM Stock Performance

The firm’s 50-day simple moving average is $160.89 and its two-hundred day simple moving average is $172.78. The stock has a market capitalization of $170.69 billion, a PE ratio of 17.09, a PEG ratio of 2.65 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a $0.85 dividend. 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 (DPR) is 37.82%.

Insider Buying and Selling

In other news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is owned by company insiders.

Hedge Funds Weigh In On QUALCOMM

Institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its stake in QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after buying an additional 3,047,947 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of QUALCOMM by 1,702.6% in the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after purchasing an additional 3,014,302 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of QUALCOMM by 17,357.3% in the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after purchasing an additional 2,919,490 shares during the period. Geode Capital Management LLC lifted its position in shares of QUALCOMM by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 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.