QUALCOMM (NASDAQ:QCOM) Shares Down 0.8% – Here’s Why

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded down 0.8% on Thursday . The stock traded as low as $154.09 and last traded at $156.43. 1,461,266 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 8,325,586 shares. The stock had previously closed at $157.64.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on QCOM shares. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Melius Research initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Mizuho dropped their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Finally, Benchmark reissued a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Price Performance

The company has a market capitalization of $172.66 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm’s 50-day moving average is $164.73 and its 200-day moving average is $165.29.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Insider Activity

In related news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the completion of the transaction, the general counsel now directly owns 17,153 shares of the company’s stock, valued at $2,754,600.27. This represents a 31.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,045 shares of company stock valued at $7,752,423 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth $26,000. Banque Transatlantique SA bought a new stake in QUALCOMM in the 4th quarter valued at $26,000. CKW Financial Group purchased a new stake in QUALCOMM in the 4th quarter worth $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at about $29,000. Finally, Sunbeam Capital Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at about $29,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

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.