QUALCOMM (NASDAQ:QCOM) Trading Up 0.8% - Here's Why

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) shares traded up 0.8% on Thursday . The company traded as high as $137.53 and last traded at $136.86. 1,291,828 shares were traded during trading, a decline of 85% from the average session volume of 8,859,079 shares. The stock had previously closed at $135.74.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays decreased their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Citigroup decreased their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Rosenblatt Securities restated a "buy" rating and set a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. TD Cowen decreased their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Evercore ISI cut their price objective on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $201.21.

QUALCOMM Stock Down 0.4 %

The firm has a market cap of $150.57 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The business's 50-day moving average is $153.10 and its 200-day moving average is $160.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released 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%. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current 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 represents a $3.56 dividend on an annualized basis and a dividend yield of 2.61%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM's dividend payout ratio is presently 36.32%.

Insider Buying and Selling

In related news, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company's stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock worth $5,047,052 in the last quarter. Insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On QUALCOMM

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Te Ahumairangi Investment Management Ltd increased its stake in QUALCOMM by 60.9% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 37,551 shares of the wireless technology company's stock valued at $6,349,000 after purchasing an additional 14,213 shares in the last quarter. Anchor Investment Management LLC lifted its holdings in QUALCOMM by 2.2% during the third quarter. Anchor Investment Management LLC now owns 34,700 shares of the wireless technology company's stock worth $5,901,000 after acquiring an additional 747 shares in the last quarter. World Investment Advisors LLC increased its holdings in shares of QUALCOMM by 304.0% in the third quarter. World Investment Advisors LLC now owns 45,166 shares of the wireless technology company's stock worth $7,680,000 after acquiring an additional 33,985 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of QUALCOMM by 620.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 55,668 shares of the wireless technology company's stock valued at $9,466,000 after purchasing an additional 47,945 shares in the last quarter. Finally, Optimist Retirement Group LLC increased its stake in QUALCOMM by 4.1% during the 3rd quarter. Optimist Retirement Group LLC now owns 13,579 shares of the wireless technology company's stock worth $2,309,000 after purchasing an additional 531 shares in the last quarter. Institutional investors 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.