QUALCOMM (NASDAQ:QCOM) Trading Up 3.7% – Here’s What Happened

QUALCOMM Incorporated (NASDAQ:QCOM) shot up 3.7% on Friday . The company traded as high as $139.95 and last traded at $140.20. 3,932,950 shares were traded during trading, a decline of 56% from the average session volume of 8,921,268 shares. The stock had previously closed at $135.21.

Analyst Ratings Changes

QCOM has been the topic of a number of recent research reports. Loop Capital dropped their price target on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday. Citigroup cut their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Evercore ISI lowered their price target on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research report on Friday. Susquehanna reduced their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research note on Thursday. Finally, Robert W. Baird lowered their target price on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, QUALCOMM presently has a consensus rating of “Hold” and an average target price of $192.58.

QUALCOMM Trading Up 3.4 %

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’s fifty day moving average is $147.74 and its two-hundred day moving average is $158.53. The company has a market cap of $154.63 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. During the same quarter last year, the company posted $2.44 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.55%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated 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 directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider now owns 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This represents a 6.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,266 shares of company stock valued at $5,267,436. 0.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On QUALCOMM

Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its stake in QUALCOMM by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock worth $1,213,023,000 after buying an additional 110,828 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of QUALCOMM during the third quarter worth approximately $344,000. Principal Financial Group Inc. raised its stake in QUALCOMM by 5.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,415,090 shares of the wireless technology company’s stock valued at $240,636,000 after purchasing an additional 69,707 shares during the last quarter. Versant Capital Management Inc lifted its holdings in QUALCOMM by 56.2% in the 4th quarter. Versant Capital Management Inc now owns 1,713 shares of the wireless technology company’s stock valued at $263,000 after purchasing an additional 616 shares in the last quarter. Finally, Modus Advisors LLC acquired a new stake in QUALCOMM during the 4th quarter worth $111,000. Institutional investors and hedge funds 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.