Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) dropped 4.7% during trading on Friday . The stock traded as low as $129.25 and last traded at $132.88. Approximately 4,353,119 shares traded hands during trading, a decline of 49% from the average daily volume of 8,617,862 shares. The stock had previously closed at $139.42.
Wall Street Analyst Weigh In
QCOM has been the topic of a number of analyst reports. Melius Research started coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 target price on the stock. Piper Sandler dropped their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Mizuho reduced their price target on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. Rosenblatt Securities reissued a "buy" rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.32.
View Our Latest Stock Analysis on QUALCOMM
QUALCOMM Stock Down 3.9 %
The business has a 50-day simple moving average of $160.91 and a 200-day simple moving average of $162.74. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market cap of $137.87 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.
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QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.
QUALCOMM Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were issued a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.73%. QUALCOMM's payout ratio is currently 36.32%.
Insider Transactions at QUALCOMM
In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 744 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares of the company's stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,749 shares of company stock valued at $4,920,347. Corporate insiders own 0.08% of the company's stock.
Institutional Trading of QUALCOMM
Hedge funds and other institutional investors have recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM in the fourth quarter valued at $26,000. Banque Transatlantique SA acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth approximately $29,000. Finally, Sunbeam Capital Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $29,000. Institutional investors and hedge funds own 74.35% of the company's stock.
QUALCOMM Company Profile
(Get Free Report)
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.
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