QUALCOMM (NASDAQ:QCOM) Stock Price Up 0.5%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price rose 0.5% during mid-day trading on Tuesday . The stock traded as high as $169.42 and last traded at $168.34. Approximately 974,304 shares traded hands during trading, a decline of 89% from the average daily volume of 9,040,744 shares. The stock had previously closed at $167.52.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent analyst reports. Morgan Stanley cut shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $119.00 to $132.00 in a research report on Friday, December 8th. KeyCorp boosted their price target on shares of QUALCOMM from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Mizuho boosted their price target on shares of QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Barclays boosted their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Finally, StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.71.

QUALCOMM Stock Up 1.2 %

The company has a market cap of $188.75 billion, a PE ratio of 24.51, a P/E/G ratio of 2.28 and a beta of 1.41. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The firm’s fifty day simple moving average is $157.05 and its 200-day simple moving average is $135.64.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, equities research analysts expect that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Wednesday, February 28th. QUALCOMM’s payout ratio is 46.38%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares of the company’s stock, valued at $4,843,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,360 shares of company stock valued at $5,457,048. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Several large investors have recently made changes to their positions in the business. Moneta Group Investment Advisors LLC grew its holdings in QUALCOMM by 117,461.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after purchasing an additional 24,566,978 shares in the last quarter. Norges Bank acquired a new position in QUALCOMM during the 4th quarter worth $2,507,978,000. Cowa LLC acquired a new position in QUALCOMM during the 1st quarter worth $94,000. Morgan Stanley grew its holdings in QUALCOMM by 22.2% during the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock worth $2,375,020,000 after acquiring an additional 3,929,586 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after acquiring an additional 2,983,206 shares in the last quarter. Institutional investors and hedge funds 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.