QUALCOMM (NASDAQ:QCOM) Stock Price Down 1.7% – Time to Sell?

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded down 1.7% during trading on Friday . The stock traded as low as $150.79 and last traded at $151.08. 2,542,147 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 8,637,960 shares. The stock had previously closed at $153.63.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research note on Friday, May 9th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Wells Fargo & Company reduced their price target on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities reissued a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Benchmark reduced their price target on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Hold” and an average target price of $186.96.

QUALCOMM Trading Down 1.5%

The stock’s fifty day simple moving average is $147.54 and its 200-day simple moving average is $154.91. The firm has a market cap of $166.15 billion, a PE ratio of 15.41, a PEG ratio of 1.95 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company posted $2.44 earnings per share. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.35%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

Insider Buying and Selling

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the transaction, the chief financial officer now directly owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. This trade represents a 0.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 423,464 shares of company stock valued at $8,135,164 over the last 90 days. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. WFA Asset Management Corp purchased a new position in shares of QUALCOMM during the first quarter worth $27,000. Vermillion & White Wealth Management Group LLC grew its position in QUALCOMM by 122.4% during the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 93 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM during the fourth quarter valued at $26,000. Banque Transatlantique SA acquired a new stake in QUALCOMM during the fourth quarter valued at $26,000. Finally, Atlantic Edge Private Wealth Management LLC grew its position in QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 70 shares during the period. Hedge funds and other 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.