QUALCOMM (NASDAQ:QCOM) Shares Down 0% - Here's Why

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) shares fell 0% during mid-day trading on Tuesday . The stock traded as low as $169.93 and last traded at $171.12. 2,406,663 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 7,304,363 shares. The stock had previously closed at $171.18.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on QCOM. Melius began coverage on QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price objective for the company. Wells Fargo & Company lifted their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an "underweight" rating in a research report on Thursday, November 7th. Barclays dropped their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Melius Research initiated coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 target price for the company. Finally, KeyCorp downgraded QUALCOMM from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $206.57.

QUALCOMM Stock Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The stock's 50 day simple moving average is $159.63 and its two-hundred day simple moving average is $167.07. The stock has a market cap of $190.19 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.14 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.99%. QUALCOMM's payout ratio is 37.82%.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,882 shares of company stock worth $4,314,649. Insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors have recently modified their holdings of the business. Paulson Wealth Management Inc. boosted its position in shares of QUALCOMM by 2.2% in the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company's stock valued at $475,000 after acquiring an additional 61 shares during the period. Blossom Wealth Management grew its stake in QUALCOMM by 2.6% during the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company's stock worth $434,000 after buying an additional 64 shares in the last quarter. Delta Financial Advisors LLC grew its stake in QUALCOMM by 2.1% during the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company's stock worth $548,000 after buying an additional 65 shares in the last quarter. Toth Financial Advisory Corp grew its stake in QUALCOMM by 3.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock worth $336,000 after buying an additional 65 shares in the last quarter. Finally, CFS Investment Advisory Services LLC grew its stake in QUALCOMM by 1.1% during the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company's stock worth $929,000 after buying an additional 65 shares in the last quarter. Institutional investors 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.

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