QUALCOMM (NASDAQ:QCOM) Stock Price Up 1.3% – Time to Buy?

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded up 1.3% during trading on Monday . The stock traded as high as $158.09 and last traded at $154.84. 1,964,935 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 8,964,035 shares. The stock had previously closed at $152.89.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent analyst reports. Susquehanna dropped their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Loop Capital initiated coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 target price for the company. Citigroup dropped their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. Finally, Evercore ISI upped their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $208.00.

QUALCOMM Price Performance

The firm has a market capitalization of $174.87 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The company has a 50-day moving average of $163.57 and a 200-day moving average of $175.98.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.16%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This trade represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,127 shares of company stock valued at $6,710,055 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently modified their holdings of QCOM. Reston Wealth Management LLC bought a new position in QUALCOMM during the third quarter worth $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM during the second quarter worth approximately $30,000. Financial Connections Group Inc. acquired a new position in QUALCOMM in the 2nd quarter valued at $32,000. Planning Capital Management Corp grew its holdings in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Finally, Accordant Advisory Group Inc bought a new position in QUALCOMM in the 3rd quarter valued at about $36,000. 74.35% of the stock is owned by institutional investors.

About QUALCOMM

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.