QUALCOMM, Inc. (NASDAQ:QCOM) declared a quarterly dividend on Tuesday, April 17th, RTT News reports. Shareholders of record on Wednesday, May 30th will be paid a dividend of 0.62 per share by the wireless technology company on Wednesday, June 20th. This represents a $2.48 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date is Tuesday, May 29th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.57.
QUALCOMM has increased its dividend payment by an average of 11.6% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. QUALCOMM has a dividend payout ratio of 74.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect QUALCOMM to earn $3.09 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 73.8%.
Shares of QCOM opened at $55.35 on Wednesday. The firm has a market capitalization of $81,079.48, a price-to-earnings ratio of 14.64, a PEG ratio of 1.70 and a beta of 1.44. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.41. QUALCOMM has a 52 week low of $48.92 and a 52 week high of $69.28.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.07. The firm had revenue of $6.10 billion for the quarter, compared to analyst estimates of $5.93 billion. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $1.19 EPS. analysts forecast that QUALCOMM will post 2.8 EPS for the current year.
In other QUALCOMM news, EVP James H. Thompson sold 50,126 shares of QUALCOMM stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $62.66, for a total value of $3,140,895.16. Following the sale, the executive vice president now owns 136,482 shares of the company’s stock, valued at approximately $8,551,962.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alexander H. Rogers sold 713 shares of QUALCOMM stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $68.20, for a total value of $48,626.60. Following the completion of the sale, the executive vice president now directly owns 10,403 shares in the company, valued at approximately $709,484.60. The disclosure for this sale can be found here. Insiders sold a total of 52,682 shares of company stock worth $3,306,030 in the last three months. Company insiders own 0.24% of the company’s stock.
QCOM has been the topic of a number of recent research reports. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $74.63 price objective on the stock in a research report on Friday, January 26th. ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. KeyCorp raised their price target on QUALCOMM from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Northland Securities restated a “buy” rating and issued a $75.00 price target on shares of QUALCOMM in a research report on Thursday, February 1st. Finally, Nomura upgraded QUALCOMM from a “neutral” rating to a “buy” rating and raised their price target for the stock from $58.00 to $75.00 in a research report on Tuesday, January 16th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have issued a buy rating to the company’s stock. QUALCOMM has a consensus rating of “Hold” and a consensus target price of $67.38.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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