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

QUALCOMM Incorporated ( NASDAQ:QCOM – Get Free Report ) 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. Read Our Latest Stock Report on QUALCOMM QUALCOMM Trading Up 0.

0 % QUALCOMM ( NASDAQ:QCOM – Get Free Report ) 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 ( Get Free Report ) 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. See Also Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter .

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