QUALCOMM (NASDAQ:QCOM) Shares Gap Down to $164.48

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $164.48, but opened at $160.56. QUALCOMM shares last traded at $158.92, with a volume of 887,723 shares.

Analysts Set New Price Targets

Several research analysts have commented on QCOM shares. Rosenblatt Securities lifted their target price on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Robert W. Baird upped their target price on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Piper Sandler restated an “overweight” rating and issued a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research report on Friday, August 2nd. Finally, HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $210.63.

QUALCOMM Stock Performance

The company’s 50 day simple moving average is $196.15 and its 200 day simple moving average is $178.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The stock has a market cap of $181.47 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 1.74 and a beta of 1.27.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.09%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Activity

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $190.01, for a total value of $1,539,081.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.01, for a total value of $1,539,081.00. The disclosure for this sale can be found here. Insiders sold a total of 31,285 shares of company stock valued at $5,871,215 in the last ninety days. 0.08% of the stock is currently owned by insiders.

Institutional Trading of QUALCOMM

Institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Wealth LLC increased its holdings in shares of QUALCOMM by 120.2% in the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after buying an additional 11,285 shares during the period. Graypoint LLC boosted its stake in shares of QUALCOMM by 27.2% during the fourth quarter. Graypoint LLC now owns 5,885 shares of the wireless technology company’s stock valued at $851,000 after purchasing an additional 1,258 shares during the period. Outlook Wealth Advisors LLC bought a new position in QUALCOMM in the fourth quarter worth about $323,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of QUALCOMM by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,450,714 shares of the wireless technology company’s stock valued at $499,077,000 after purchasing an additional 43,731 shares in the last quarter. Finally, River Street Advisors LLC boosted its holdings in shares of QUALCOMM by 6.1% during the 4th quarter. River Street Advisors LLC now owns 7,320 shares of the wireless technology company’s stock valued at $1,059,000 after buying an additional 424 shares in the last quarter. 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.