QUALCOMM (NASDAQ:QCOM) Shares Up 1.9% – Still a Buy?

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded up 1.9% during mid-day trading on Tuesday . The company traded as high as $158.31 and last traded at $158.33. 1,925,030 shares were traded during trading, a decline of 78% from the average session volume of 8,715,990 shares. The stock had previously closed at $155.41.

Analysts Set New Price Targets

A number of brokerages have recently commented on QCOM. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $185.00 price target on shares of QUALCOMM in a report on Tuesday, April 29th. Loop Capital decreased their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Benchmark decreased their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Evercore ISI lowered their target price on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. Finally, Robert W. Baird reduced their price objective on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, QUALCOMM currently has an average rating of “Hold” and an average price target of $189.88.

QUALCOMM Price Performance

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 has a market capitalization of $173.79 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The company has a 50-day moving average price of $143.64 and a 200-day moving average price of $155.11.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the firm posted $2.44 earnings per share. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal 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 paid a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.25%. QUALCOMM’s dividend payout ratio is presently 36.25%.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 1,781 shares of the business’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the sale, the chief financial officer now owns 57,997 shares of the company’s stock, valued at $7,661,403.70. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold 425,064 shares of company stock valued at $8,381,948 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

Institutional Trading of QUALCOMM

Large investors have recently made changes to their positions in the company. WFA Asset Management Corp bought a new position in QUALCOMM during the 1st quarter valued at $27,000. Vermillion & White Wealth Management Group LLC grew its holdings in QUALCOMM by 122.4% during the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 93 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM during the fourth quarter valued at approximately $26,000. Finally, Atlantic Edge Private Wealth Management LLC lifted its stake in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 70 shares in the last quarter. 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.