QUALCOMM (NASDAQ:QCOM) Shares Down 1.9% - Here's What Happened

Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) were down 1.9% on Monday . The company traded as low as $147.88 and last traded at $149.88. Approximately 1,522,497 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 8,577,823 shares. The stock had previously closed at $152.72.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Melius began coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 target price on the stock. Barclays reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Benchmark reissued a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Evercore ISI decreased their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of "Moderate Buy" and a consensus target price of $205.32.

QUALCOMM Trading Down 8.6 %

The stock has a market cap of $140.97 billion, a P/E ratio of 13.62, a PEG ratio of 2.01 and a beta of 1.28. The firm's fifty day moving average price is $161.74 and its two-hundred day moving average price is $163.13. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM's payout ratio is currently 36.32%.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Neil Martin sold 744 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is currently owned by insiders.

Institutional Trading of QUALCOMM

Several large investors have recently modified their holdings of QCOM. Nordea Investment Management AB increased its stake in shares of QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock valued at $284,708,000 after buying an additional 523,244 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock worth $4,239,000 after acquiring an additional 4,955 shares during the period. FNY Investment Advisers LLC bought a new position in shares of QUALCOMM in the 4th quarter worth approximately $2,058,000. Burney Co. lifted its stake in shares of QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after purchasing an additional 127,722 shares during the period. Finally, Howard Bailey Securities LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at approximately $240,000. 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.