QUALCOMM (NASDAQ:QCOM) Shares Down 2.3%

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s stock price traded down 2.3% on Friday . The stock traded as low as $159.42 and last traded at $159.87. 1,576,650 shares were traded during mid-day trading, a decline of 83% from the average session volume of 9,224,437 shares. The stock had previously closed at $163.70.

Analysts Set New Price Targets

Several research analysts have commented on QCOM shares. DZ Bank upgraded shares of QUALCOMM from a "hold" rating to a "buy" rating and set a $210.00 price target for the company in a report on Friday, August 2nd. Rosenblatt Securities increased their target price on QUALCOMM from $240.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $215.00 price target on shares of QUALCOMM in a report on Thursday, August 1st. Citigroup increased their price objective on QUALCOMM from $170.00 to $200.00 and gave the company a "neutral" rating in a report on Monday, July 15th. Finally, TD Cowen boosted their target price on QUALCOMM from $200.00 to $235.00 and gave the stock a "buy" rating in a research note on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $210.63.

QUALCOMM Stock Down 3.4 %

The firm has a fifty day moving average price of $180.77 and a 200 day moving average price of $181.31. The firm has a market capitalization of $176.22 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.93 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion during the quarter, compared to analysts' expectations of $9.23 billion. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 7.98 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM's dividend payout ratio is currently 45.70%.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the firm's stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares of the company's stock, valued at approximately $47,452,516.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the business's stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now directly owns 237,893 shares of the company's stock, valued at $47,452,516.71. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares of the company's stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,000 shares of company stock valued at $3,496,590. Company insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On QUALCOMM

A number of hedge funds have recently bought and sold shares of QCOM. Norges Bank acquired a new stake in QUALCOMM in the fourth quarter valued at $2,507,978,000. Matrix Capital Management Company LP acquired a new position in QUALCOMM in the first quarter worth about $1,171,516,000. Massachusetts Financial Services Co. MA grew its stake in QUALCOMM by 1,778.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company's stock worth $641,221,000 after purchasing an additional 3,047,947 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company's stock valued at $3,664,418,000 after buying an additional 1,909,025 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in QUALCOMM by 34.8% during the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company's stock valued at $997,210,000 after buying an additional 1,519,781 shares in the last quarter. 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.