QUALCOMM (NASDAQ:QCOM) Trading 1.4% Higher

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) was up 1.4% during mid-day trading on Monday . The stock traded as high as $162.37 and last traded at $160.47. Approximately 1,166,790 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 9,232,563 shares. The stock had previously closed at $158.19.

Analysts Set New Price Targets

Several brokerages have weighed in on QCOM. Wolfe Research lowered QUALCOMM from an "outperform" rating to a "peer perform" rating in a research report on Monday, August 12th. Bank of America raised their target price on QUALCOMM from $180.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, May 31st. Wells Fargo & Company boosted their price target on QUALCOMM from $140.00 to $170.00 and gave the stock an "underweight" rating in a research report on Thursday, August 1st. Mizuho raised their price target on QUALCOMM from $180.00 to $240.00 and gave the company a "buy" rating in a report on Friday, May 31st. Finally, Barclays upped their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $210.63.

QUALCOMM Price Performance

The stock has a market capitalization of $179.10 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The stock has a 50-day simple moving average of $179.17 and a 200 day simple moving average of $181.80.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.98 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. QUALCOMM's payout ratio is 45.70%.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now owns 229,987 shares of the company's stock, valued at approximately $36,912,913.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock valued at $3,496,590 in the last three months. Insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On QUALCOMM

Several hedge funds have recently modified their holdings of the business. Gilbert & Cook Inc. lifted its holdings in shares of QUALCOMM by 7.3% during the 4th quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company's stock worth $760,000 after acquiring an additional 356 shares during the period. Gryphon Financial Partners LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $334,000. AlphaStar Capital Management LLC raised its holdings in shares of QUALCOMM by 72.4% in the 4th quarter. AlphaStar Capital Management LLC now owns 5,385 shares of the wireless technology company's stock worth $779,000 after buying an additional 2,261 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of QUALCOMM by 11.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 58,279 shares of the wireless technology company's stock worth $8,429,000 after buying an additional 5,860 shares during the period. Finally, Ieq Capital LLC boosted its stake in QUALCOMM by 37.5% in the 4th quarter. Ieq Capital LLC now owns 42,506 shares of the wireless technology company's stock valued at $6,148,000 after buying an additional 11,585 shares in the last quarter. 74.35% of the stock is owned by 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.