QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s share price fell 1.5% during trading on Friday . The company traded as low as $153.56 and last traded at $155.57. 2,449,990 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 8,198,986 shares. The stock had previously closed at $157.95.
Analyst Ratings Changes
QCOM has been the subject of several recent research reports. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Evercore ISI reduced their target price on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. Benchmark restated a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Melius started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price target for the company. Finally, Mizuho decreased their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $205.32.
Check Out Our Latest Analysis on QCOM
QUALCOMM Stock Performance
The stock has a market capitalization of $177.51 billion, a PE ratio of 17.15, a PEG ratio of 2.01 and a beta of 1.28. The business's 50 day moving average is $164.57 and its 200 day moving average is $163.95. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.
QUALCOMM Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Thursday, March 6th. QUALCOMM's dividend payout ratio is currently 36.32%.
Insider Buying and Selling
In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total transaction of $523,308.34. Following the transaction, the chief financial officer now directly owns 59,778 shares in the company, valued at $9,374,385.96. This trade represents a 5.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on 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 directly owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock valued at $4,685,077 in the last 90 days. Company insiders own 0.08% of the company's stock.
Hedge Funds Weigh In On QUALCOMM
Institutional investors have recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM during the fourth quarter valued at approximately $26,000. Banque Transatlantique SA purchased a new position in shares of QUALCOMM in the 4th quarter valued at $26,000. CKW Financial Group bought a new position in shares of QUALCOMM in the 4th quarter worth $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter worth $29,000. Finally, Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 74.35% of the company's stock.
About QUALCOMM
(
Get Free Report)
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.
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