QUALCOMM (NASDAQ:QCOM) Stock Price Up 1.1% - Time to Buy?

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s stock price was up 1.1% during trading on Friday . The stock traded as high as $156.18 and last traded at $155.26. Approximately 1,041,910 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 2,917,179 shares. The stock had previously closed at $153.64.

Analysts Set New Price Targets

QCOM has been the topic of a number of research reports. TD Cowen raised shares of QUALCOMM to a "strong-buy" rating in a research note on Monday, September 16th. Cantor Fitzgerald restated a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Wednesday, November 20th. StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 2nd. Melius initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price target on the stock. Finally, Melius Research initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $208.00.

QUALCOMM Stock Performance

The company has a market capitalization of $175.35 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 2.65 and a beta of 1.25. The company has a 50 day moving average price of $160.89 and a 200 day moving average price of $172.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

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, beating analysts' consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $9.90 billion. Equities research analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Thursday, December 5th. QUALCOMM's dividend payout ratio (DPR) is 37.82%.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company's stock, valued at $14,570. This trade represents a 93.28 % 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 link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 over the last three months. Corporate insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On QUALCOMM

Several hedge funds have recently bought and sold shares of QCOM. Wedge Capital Management L L P NC raised its stake in shares of QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company's stock valued at $60,264,000 after acquiring an additional 51,879 shares during the last quarter. Icon Wealth Advisors LLC lifted its stake in QUALCOMM by 123.2% in the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company's stock worth $5,643,000 after acquiring an additional 18,315 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in QUALCOMM by 39.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company's stock valued at $30,068,000 after acquiring an additional 50,438 shares in the last quarter. Aljian Capital Management LLC purchased a new position in QUALCOMM during the 3rd quarter valued at $1,820,000. Finally, Captrust Financial Advisors raised its holdings in QUALCOMM by 4.6% in the 3rd quarter. Captrust Financial Advisors now owns 664,330 shares of the wireless technology company's stock worth $112,969,000 after purchasing an additional 29,287 shares in the last quarter. 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.