QUALCOMM (NASDAQ:QCOM) Trading 3.9% Higher - Time to Buy?

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) shares traded up 3.9% during trading on Thursday . The company traded as high as $146.02 and last traded at $145.96. 1,650,877 shares changed hands during trading, a decline of 81% from the average session volume of 8,855,939 shares. The stock had previously closed at $140.46.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Evercore ISI lowered their price objective on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. TD Cowen reduced their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Citigroup dropped their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $201.21.

QUALCOMM Stock Up 0.9 %

The stock has a fifty day moving average of $150.11 and a 200 day moving average of $159.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm has a market capitalization of $164.31 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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%. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio is currently 38.03%.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 648 shares of QUALCOMM stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $141.11, for a total value of $91,439.28. Following the completion of the transaction, the chief financial officer now owns 56,445 shares in the company, valued at $7,964,953.95. This trade represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 744 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,666 shares of company stock valued at $5,047,052. 0.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM during the 4th quarter valued at about $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM during the fourth quarter valued at about $27,000. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the first quarter worth about $27,000. Finally, Centricity Wealth Management LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. 74.35% of the stock is currently owned by hedge funds and other 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.