QUALCOMM (NASDAQ:QCOM) Trading 1.2% Higher - Here's What Happened

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s share price traded up 1.2% during mid-day trading on Friday . The company traded as high as $152.19 and last traded at $152.18. 3,228,846 shares were traded during trading, a decline of 64% from the average session volume of 8,935,330 shares. The stock had previously closed at $150.40.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on QCOM shares. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, October 2nd. Citigroup cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 16th. Loop Capital began coverage on QUALCOMM in a research report on Monday, November 11th. They issued a "hold" rating and a $180.00 target price for the company. Cantor Fitzgerald reiterated a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. Finally, Morgan Stanley decreased their price objective on QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $208.00.

QUALCOMM Stock Up 1.7 %

The stock has a 50 day moving average price of $163.57 and a 200 day moving average price of $176.18. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The company has a market capitalization of $169.86 billion, a P/E ratio of 17.01, a PEG ratio of 2.65 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 the consensus estimate 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%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, December 5th. QUALCOMM's dividend payout ratio (DPR) is 37.82%.

Insiders Place Their Bets

In related news, insider Alexander H. Rogers sold 10,373 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 33,383 shares of the company's stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares of the company's stock, valued at $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,127 shares of company stock valued at $6,710,055 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QUALCOMM

Large investors have recently made changes to their positions in the stock. Independent Solutions Wealth Management LLC raised its stake in shares of QUALCOMM by 11.2% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 13,327 shares of the wireless technology company's stock valued at $2,266,000 after purchasing an additional 1,340 shares during the period. Principal Financial Group Inc. grew its holdings in QUALCOMM by 5.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,415,090 shares of the wireless technology company's stock valued at $240,636,000 after buying an additional 69,707 shares in the last quarter. Syntax Research Inc. increased its position in shares of QUALCOMM by 8.9% during the third quarter. Syntax Research Inc. now owns 4,682 shares of the wireless technology company's stock valued at $796,000 after buying an additional 382 shares during the period. DGS Capital Management LLC lifted its holdings in shares of QUALCOMM by 65.1% in the third quarter. DGS Capital Management LLC now owns 3,486 shares of the wireless technology company's stock worth $593,000 after buying an additional 1,374 shares in the last quarter. Finally, Copley Financial Group Inc. bought a new position in shares of QUALCOMM in the third quarter valued at approximately $141,000. 74.35% of the stock is owned by institutional investors.

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.