QUALCOMM (NASDAQ:QCOM) Stock Price Up 2.3% – Should You Buy?

QUALCOMM Incorporated (NASDAQ:QCOM) traded up 2.3% during mid-day trading on Thursday . The stock traded as high as $164.11 and last traded at $164.08. Approximately 1,744,447 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 8,994,082 shares. The stock had previously closed at $160.42.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of research analyst reports. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Evercore ISI boosted their price objective on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $210.92.

QUALCOMM Trading Down 2.1 %

The business has a fifty day moving average of $168.35 and a two-hundred day moving average of $182.10. The firm has a market cap of $178.32 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 2.70 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Transactions at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred 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 transaction, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. The trade was a 13.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. The trade was a 5.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock valued at $2,709,186 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QUALCOMM

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Leelyn Smith LLC acquired a new position in shares of QUALCOMM during the 1st quarter valued at about $208,000. Nicolet Advisory Services LLC acquired a new position in QUALCOMM during the first quarter worth approximately $222,000. Intech Investment Management LLC raised its stake in QUALCOMM by 49.3% during the first quarter. Intech Investment Management LLC now owns 61,797 shares of the wireless technology company’s stock worth $10,462,000 after purchasing an additional 20,412 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of QUALCOMM by 468.0% in the 1st quarter. Acadian Asset Management LLC now owns 257,374 shares of the wireless technology company’s stock valued at $43,564,000 after purchasing an additional 212,064 shares during the last quarter. Finally, Blue Barn Wealth LLC boosted its holdings in shares of QUALCOMM by 54.5% in the 1st quarter. Blue Barn Wealth LLC now owns 5,727 shares of the wireless technology company’s stock valued at $970,000 after purchasing an additional 2,021 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

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.