QUALCOMM (NASDAQ:QCOM) Trading Down 0.6% – Here’s What Happened

QUALCOMM Incorporated (NASDAQ:QCOM) shares were down 0.6% during trading on Wednesday . The company traded as low as $153.21 and last traded at $153.62. Approximately 4,421,372 shares changed hands during trading, a decline of 50% from the average daily volume of 8,909,033 shares. The stock had previously closed at $154.58.

Analyst Ratings Changes

Several analysts have weighed in on QCOM shares. TD Cowen raised QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. JPMorgan Chase & Co. lowered their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company upped their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, Sanford C. Bernstein upped their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.00.

QUALCOMM Trading Up 0.0 %

The stock has a market capitalization of $170.69 billion, a PE ratio of 17.09, a PEG ratio of 2.65 and a beta of 1.25. 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 business’s 50-day moving average is $160.89 and its two-hundred day moving average is $172.78.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. On average, analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.21%. The ex-dividend date was Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Insider Buying and Selling at QUALCOMM

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

Hedge Funds Weigh In On QUALCOMM

Hedge funds have recently bought and sold shares of the company. HWG Holdings LP acquired a new position in shares of QUALCOMM in the 2nd quarter worth approximately $30,000. Reston Wealth Management LLC acquired a new position in QUALCOMM in the third quarter worth $26,000. Planning Capital Management Corp boosted its holdings in QUALCOMM by 137.3% in the third 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 during the period. Hershey Financial Advisers LLC bought a new stake in QUALCOMM during the second quarter valued at $42,000. Finally, Accordant Advisory Group Inc bought a new position in shares of QUALCOMM in the 3rd quarter worth about $36,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.