QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s share price traded up 1.4% during mid-day trading on Wednesday . The company traded as high as $161.93 and last traded at $161.37. 2,557,370 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 8,728,963 shares. The stock had previously closed at $159.13.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Evercore ISI dropped their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Robert W. Baird dropped their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, TD Cowen dropped their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $189.88.
Check Out Our Latest Analysis on QUALCOMM
QUALCOMM Stock Performance
The company has a market cap of $169.88 billion, a PE ratio of 16.53, a P/E/G ratio of 2.01 and a beta of 1.26. 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 stock's 50-day simple moving average is $145.85 and its 200 day simple moving average is $155.15.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts' consensus estimates 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%. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.44 EPS. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.
QUALCOMM Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.30%. QUALCOMM's dividend payout ratio is 36.25%.
Insider Transactions at QUALCOMM
In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $146.10, for a total transaction of $486,951.30. Following the sale, the chief financial officer now directly owns 49,779 shares in the company, valued at $7,272,711.90. This represents a 6.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 423,464 shares of company stock valued at $8,135,164 in the last ninety days. 0.08% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On QUALCOMM
Several hedge funds have recently modified their holdings of the company. 1248 Management LLC acquired a new stake in shares of QUALCOMM during the 1st quarter worth about $57,000. Inspire Investing LLC raised its holdings in QUALCOMM by 78.7% in the first quarter. Inspire Investing LLC now owns 34,918 shares of the wireless technology company's stock valued at $5,364,000 after buying an additional 15,374 shares during the period. CBIZ Investment Advisory Services LLC raised its holdings in QUALCOMM by 44.6% in the first quarter. CBIZ Investment Advisory Services LLC now owns 256 shares of the wireless technology company's stock valued at $39,000 after buying an additional 79 shares during the period. Modern Wealth Management LLC raised its holdings in QUALCOMM by 5.3% in the first quarter. Modern Wealth Management LLC now owns 10,936 shares of the wireless technology company's stock valued at $1,680,000 after buying an additional 555 shares during the period. Finally, Strs Ohio purchased a new stake in shares of QUALCOMM during the first quarter valued at approximately $56,447,000. 74.35% of the stock is owned by institutional investors and hedge funds.
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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