QUALCOMM (NASDAQ:QCOM) Trading Down 0.5% - Here's Why

Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) dropped 0.5% on Tuesday . The company traded as low as $150.27 and last traded at $152.89. Approximately 1,001,051 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 8,575,489 shares. The stock had previously closed at $153.61.

Analyst Ratings Changes

Several equities research analysts recently issued reports on QCOM shares. Benchmark reaffirmed a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Evercore ISI decreased their target price on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. Piper Sandler dropped their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, QUALCOMM presently has a consensus rating of "Moderate Buy" and an average target price of $205.32.

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QUALCOMM Trading Up 0.3 %

The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a market cap of $169.72 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The firm's 50-day simple moving average is $163.66 and its 200 day simple moving average is $163.64.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly 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%. As a group, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.22%. QUALCOMM's payout ratio is 36.32%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now owns 59,778 shares of the company's stock, valued at $9,374,385.96. This represents a 5.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. The trade was a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 over the last three months. Company insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On QUALCOMM

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