QUALCOMM (NASDAQ:QCOM) Trading Down 1.3% - What's Next?

Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) dropped 1.3% during trading on Thursday . The company traded as low as $150.89 and last traded at $151.00. Approximately 2,113,527 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 8,932,315 shares. The stock had previously closed at $153.05.

Analyst Ratings Changes

Several brokerages have recently weighed in on QCOM. Sanford C. Bernstein boosted their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Evercore ISI upped their target price on QUALCOMM from $190.00 to $199.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. Melius Research assumed coverage on QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price target on the stock. KeyCorp cut shares of QUALCOMM from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 8th. Finally, Citigroup decreased their target price on shares of QUALCOMM from $200.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $208.00.

QUALCOMM Price Performance

The company has a 50 day moving average of $163.92 and a 200 day moving average of $176.55. 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 stock has a market capitalization of $167.09 billion, a price-to-earnings ratio of 16.73, 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 analysts' consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.26%. QUALCOMM's dividend payout ratio (DPR) is currently 37.82%.

Insider Buying and Selling

In other news, CAO Neil Martin sold 1,304 shares of the company's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares of the company's stock, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares in the company, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,127 shares of company stock worth $6,710,055. Corporate insiders own 0.08% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of QCOM. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the third quarter worth about $26,000. HWG Holdings LP acquired a new position in QUALCOMM during the second quarter worth approximately $30,000. Financial Connections Group Inc. purchased a new stake in QUALCOMM in the second quarter valued at approximately $32,000. Planning Capital Management Corp boosted its holdings in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock valued at $34,000 after acquiring an additional 114 shares during the period. Finally, Accordant Advisory Group Inc purchased a new position in shares of QUALCOMM during the third quarter worth approximately $36,000. Institutional investors and hedge funds own 74.35% of the company's stock.

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.