QUALCOMM (NASDAQ:QCOM) Stock Price Up 0.8% – Still a Buy?

QUALCOMM Incorporated (NASDAQ:QCOM) shot up 0.8% during trading on Thursday . The company traded as high as $172.36 and last traded at $171.59. 993,785 shares were traded during trading, a decline of 87% from the average session volume of 7,632,991 shares. The stock had previously closed at $170.29.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Benchmark restated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Finally, Melius initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Price Performance

The company has a 50 day moving average of $163.13 and a 200-day moving average of $165.50. The stock has a market capitalization of $190.49 billion, a P/E ratio of 18.40, a PEG ratio of 2.80 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. QUALCOMM’s payout ratio is currently 36.32%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,268 shares of company stock worth $7,785,781 over the last ninety days. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Institutional investors have recently bought and sold shares of the stock. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM in the fourth quarter worth approximately $26,000. CKW Financial Group acquired a new stake in QUALCOMM in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM in the fourth quarter worth approximately $29,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of QUALCOMM in the fourth quarter valued at $33,000. Institutional investors and hedge funds 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.