QUALCOMM Sees Unusually High Options Volume (NASDAQ:QCOM)

QUALCOMM Incorporated (NASDAQ:QCOM) was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 78,034 call options on the company. This is an increase of approximately 24% compared to the typical volume of 63,117 call options.

Analyst Ratings Changes

A number of research analysts have recently commented on QCOM shares. Robert W. Baird lifted their price objective on shares of QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Wells Fargo & Company raised their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a research note on Thursday, May 2nd. Wolfe Research raised their target price on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. UBS Group lifted their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price objective on shares of QUALCOMM in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $180.48.

QUALCOMM Price Performance

QCOM opened at $210.36 on Friday. The firm has a market cap of $234.76 billion, a P/E ratio of 28.27, a PEG ratio of 2.51 and a beta of 1.33. The firm has a 50-day moving average of $175.50 and a 200 day moving average of $155.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. QUALCOMM has a fifty-two week low of $101.47 and a fifty-two week high of $211.30.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.11. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, research analysts expect that QUALCOMM will post 7.81 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.62%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 43.01%.

Insiders Place Their Bets

In other news, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the transaction, the director now owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now directly owns 54 shares in the company, valued at $9,623.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Neil Smit sold 3,069 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the transaction, the director now owns 5,902 shares in the company, valued at $1,185,947.88. The disclosure for this sale can be found here. Insiders sold a total of 70,074 shares of company stock valued at $12,258,386 in the last quarter. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Institutional investors and hedge funds have recently modified their holdings of the company. Financial Gravity Asset Management Inc. grew its position in QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the last quarter. WFA Asset Management Corp bought a new position in QUALCOMM during the first quarter valued at approximately $27,000. CarsonAllaria Wealth Management Ltd. grew its position in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in QUALCOMM during the fourth quarter valued at approximately $32,000. Finally, Cherry Tree Wealth Management LLC grew its position in QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

About QUALCOMM

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.