QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.6%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price was down 0.6% during mid-day trading on Friday . The stock traded as low as $159.72 and last traded at $160.52. Approximately 1,746,761 shares changed hands during trading, a decline of 79% from the average daily volume of 8,520,190 shares. The stock had previously closed at $161.44.

Analyst Upgrades and Downgrades

Several analysts have recently commented on QCOM shares. Canaccord Genuity Group raised their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a research note on Thursday, February 1st. Cantor Fitzgerald raised their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. KeyCorp raised their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $156.90.

QUALCOMM Price Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The company’s fifty day simple moving average is $164.74 and its two-hundred day simple moving average is $142.33. The stock has a market capitalization of $176.23 billion, a PE ratio of 23.26, a P/E/G ratio of 2.24 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 7.69 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. In the last three months, insiders sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

Institutional investors have recently bought and sold shares of the stock. WFA Asset Management Corp purchased a new stake in QUALCOMM in the first quarter valued at approximately $27,000. O Dell Group LLC purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $28,000. CarsonAllaria Wealth Management Ltd. lifted its position in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares in the last quarter. Milestone Investment Advisors LLC acquired a new position in QUALCOMM during the first quarter valued at approximately $26,000. Finally, Richardson Capital Management LLC acquired a new position in QUALCOMM during the first quarter valued at approximately $37,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

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.