QUALCOMM (NASDAQ:QCOM) Shares Down 0% – Here’s Why

QUALCOMM Incorporated (NASDAQ:QCOM) shares fell 0% on Tuesday . The company traded as low as $169.93 and last traded at $171.12. 2,406,663 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 7,304,363 shares. The stock had previously closed at $171.18.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on QCOM. Melius Research began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Barclays dropped their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Susquehanna dropped their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Trading Up 0.0 %

The firm’s 50-day moving average is $159.63 and its 200-day moving average is $167.07. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm has a market cap of $190.19 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 2.84 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the sale, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is owned by insiders.

Institutional Trading of QUALCOMM

Hedge funds and other institutional investors have recently bought and sold shares of the company. Reston Wealth Management LLC purchased a new stake in QUALCOMM in the third quarter worth approximately $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $27,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the second quarter valued at approximately $30,000. Planning Capital Management Corp boosted its stake in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Finally, Accordant Advisory Group Inc purchased a new stake in shares of QUALCOMM during the third quarter valued at approximately $36,000. 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.