Traders Buy QUALCOMM Incorporated (QCOM) on Weakness

Traders bought shares of QUALCOMM Incorporated (NASDAQ:QCOM) on weakness during trading hours on Thursday. $100.05 million flowed into the stock on the tick-up and $68.83 million flowed out of the stock on the tick-down, for a money net flow of $31.22 million into the stock. Of all equities tracked, QUALCOMM had the 25th highest net in-flow for the day. QUALCOMM traded down ($0.43) for the day and closed at $52.34

Several research firms have commented on QCOM. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company reissued an “outperform” rating on shares of QUALCOMM in a research report on Monday, July 31st. ValuEngine downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Sanford C. Bernstein reissued a “market perform” rating on shares of QUALCOMM in a research report on Tuesday, July 25th. Finally, BidaskClub downgraded shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $63.96.

The firm has a 50 day moving average of $54.47 and a 200-day moving average of $55.60. The stock has a market capitalization of $77.82 billion, a P/E ratio of 20.19 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. On average, equities research analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date is Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.

In related news, EVP Alexander H. Rogers sold 470 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $57.28, for a total transaction of $26,921.60. Following the completion of the transaction, the executive vice president now directly owns 3,049 shares in the company, valued at approximately $174,646.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Derek K. Aberle sold 23,104 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the transaction, the president now owns 5,855 shares of the company’s stock, valued at $324,249.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,101 shares of company stock valued at $2,955,612. 0.17% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in QCOM. M Holdings Securities Inc. boosted its position in QUALCOMM by 23.5% in the fourth quarter. M Holdings Securities Inc. now owns 9,296 shares of the wireless technology company’s stock worth $606,000 after buying an additional 1,766 shares in the last quarter. Pegasus Partners Ltd. boosted its position in QUALCOMM by 20.0% in the fourth quarter. Pegasus Partners Ltd. now owns 11,656 shares of the wireless technology company’s stock worth $760,000 after buying an additional 1,939 shares in the last quarter. Teachers Advisors LLC boosted its position in QUALCOMM by 23.0% in the fourth quarter. Teachers Advisors LLC now owns 3,729,155 shares of the wireless technology company’s stock worth $243,141,000 after buying an additional 698,081 shares in the last quarter. Kentucky Retirement Systems bought a new position in QUALCOMM during the fourth quarter worth about $6,987,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in QUALCOMM during the fourth quarter worth about $3,118,000. Institutional investors and hedge funds own 76.61% of the company’s stock.

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About QUALCOMM

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

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