QUALCOMM (NASDAQ:QCOM) Trading Down 4.3% on Disappointing Earnings

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded down 4.3% during trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $165.40 and last traded at $168.24. 7,467,003 shares were traded during trading, a decline of 3% from the average session volume of 7,702,955 shares. The stock had previously closed at $175.86.

The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.02%. QUALCOMM’s dividend payout ratio is 37.82%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of recent analyst reports. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday. Melius started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Susquehanna lowered their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the transaction, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,981 shares of company stock worth $4,000,870 in the last 90 days. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the 3rd quarter worth about $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth about $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM during the 4th quarter worth about $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth about $29,000. Finally, Planning Capital Management Corp lifted its holdings 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 worth $34,000 after acquiring an additional 114 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

The firm has a market capitalization of $186.60 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The company’s fifty day moving average price is $161.96 and its two-hundred day moving average price is $166.04.

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.