By otakuyassine3@gmail.com 
QUALCOMM Incorporated (NASDAQ:QCOM – Get Free Report) shares were up 1.3% during trading on Monday . The company traded as high as $158.09 and last traded at $154.84. Approximately 1,964,935 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 8,964,035 shares. The stock had previously closed at $152.89.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Susquehanna dropped their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Sanford C. Bernstein boosted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Melius started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Finally, TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.00.
Check Out Our Latest Stock Analysis on QUALCOMM
QUALCOMM Price Performance
The company’s 50-day simple moving average is $163.57 and its 200 day simple moving average is $175.98. The stock has a market capitalization of $174.87 billion, a price-to-earnings ratio of 17.51, a P/E/G ratio of 2.65 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.
QUALCOMM (NASDAQ:QCOM – Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. Equities research analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current year.
QUALCOMM Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.
Insider Buying and Selling
In other news, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the sale, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,127 shares of company stock worth $6,710,055 in the last quarter. 0.08% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On QUALCOMM
Several hedge funds have recently made changes to their positions in the stock. Reston Wealth Management LLC acquired a new stake in QUALCOMM during the third quarter worth $26,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM during the 2nd quarter valued at about $30,000. Financial Connections Group Inc. bought a new stake in QUALCOMM in the second quarter valued at about $32,000. Planning Capital Management Corp raised its position in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Finally, Accordant Advisory Group Inc bought a new position in QUALCOMM during the third quarter worth about $36,000. Institutional investors own 74.35% of the company’s stock.
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.
Further Reading
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