QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.6% – Time to Sell?

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) fell 0.6% on Tuesday . The company traded as low as $151.93 and last traded at $152.73. 957,083 shares were traded during mid-day trading, a decline of 89% from the average session volume of 8,888,151 shares. The stock had previously closed at $153.70.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent analyst reports. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research report on Friday, May 9th. Citigroup decreased their price target on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Evercore ISI cut their price objective on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research report on Friday, May 2nd. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, QUALCOMM has an average rating of “Hold” and an average price target of $192.08.

QUALCOMM Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company has a market cap of $168.62 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The stock has a 50-day moving average price of $145.96 and a 200 day moving average price of $156.72.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.44 earnings per share. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.32%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is 36.25%.

Insider Activity

In other news, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. This represents a 61.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the sale, the chief financial officer now owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,312 shares of company stock worth $1,948,379 over the last ninety days. Insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Institutional investors and hedge funds have recently bought and sold shares of the business. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $26,000. Banque Transatlantique SA bought a new position in QUALCOMM in the 4th quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC lifted 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 worth $26,000 after acquiring an additional 70 shares during the last quarter. Vermillion & White Wealth Management Group LLC boosted its holdings in shares of 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 worth $26,000 after acquiring an additional 93 shares during the period. Finally, CKW Financial Group acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $27,000. 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.