QUALCOMM (NASDAQ:QCOM) Shares Down 0.9%

Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) were down 0.9% during mid-day trading on Thursday . The stock traded as low as $162.90 and last traded at $165.01. Approximately 1,110,715 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 9,209,464 shares. The stock had previously closed at $166.56.

Analyst Ratings Changes

Several analysts recently commented on QCOM shares. Mizuho raised their price objective on QUALCOMM from $180.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, May 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on QUALCOMM from $155.00 to $170.00 and gave the company a "hold" rating in a report on Thursday, August 1st. Wolfe Research cut QUALCOMM from an "outperform" rating to a "peer perform" rating in a research note on Monday, August 12th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $215.00 price target on shares of QUALCOMM in a research note on Thursday, August 1st. Finally, Citigroup increased their price objective on shares of QUALCOMM from $170.00 to $200.00 and gave the stock a "neutral" rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of "Moderate Buy" and a consensus price target of $210.63.

QUALCOMM Stock Performance

The firm has a market cap of $184.12 billion, a price-to-earnings ratio of 22.17, 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's 50 day moving average is $176.88 and its 200 day moving average is $181.63.

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 the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Analysts anticipate that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM's dividend payout ratio (DPR) is 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 that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the firm's stock in a transaction on Monday, July 1st. The stock was 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 in the company, valued at $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares of the company's stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,496,590 in the last quarter. Company insiders own 0.08% of the company's stock.

Institutional Trading of QUALCOMM

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