QUALCOMM (NASDAQ:QCOM) Trading Down 1.1%

Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) traded down 1.1% on Wednesday . The company traded as low as $159.71 and last traded at $159.87. 779,896 shares were traded during mid-day trading, a decline of 92% from the average session volume of 9,212,911 shares. The stock had previously closed at $161.68.

Wall Street Analyst Weigh In

QCOM has been the topic of several research reports. StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, September 3rd. Citigroup boosted their target price on shares of QUALCOMM from $170.00 to $200.00 and gave the company a "neutral" rating in a research report on Monday, July 15th. Tigress Financial increased their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, June 21st. HSBC downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating and set a $200.00 price objective for the company. in a research report on Wednesday, July 17th. Finally, Robert W. Baird raised their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an "outperform" rating in a report on Tuesday, July 23rd. One investment 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. According to MarketBeat, QUALCOMM has a consensus rating of "Moderate Buy" and a consensus target price of $210.63.

QUALCOMM Stock Performance

The company has a market capitalization of $185.88 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. The business has a 50 day moving average of $177.65 and a 200 day moving average of $181.74. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results 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 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 the consensus estimate of $9.23 billion. On average, sell-side analysts predict that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Thursday, September 5th. QUALCOMM's dividend payout ratio is 45.70%.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company's stock in a transaction that occurred on 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 sale, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other QUALCOMM 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 transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now directly owns 229,987 shares of the company's stock, valued at $36,912,913.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,000 shares of company stock worth $3,496,590. Corporate insiders own 0.08% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. City Holding Co. lifted its holdings in QUALCOMM by 3.5% during the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company's stock valued at $996,000 after buying an additional 199 shares in the last quarter. Bard Financial Services Inc. grew its stake in QUALCOMM by 0.4% in the fourth quarter. Bard Financial Services Inc. now owns 34,790 shares of the wireless technology company's stock worth $5,032,000 after purchasing an additional 125 shares in the last quarter. BNP Paribas purchased a new position in QUALCOMM during the 1st quarter worth $3,104,000. SWP Financial LLC purchased a new position in QUALCOMM during the 4th quarter worth $593,000. Finally, Horizon Investment Services LLC bought a new stake in QUALCOMM during the 1st quarter valued at $3,832,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

About QUALCOMM

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.