QUALCOMM Incorporated (NASDAQ:QCOM) to Issue Quarterly Dividend of $0.85

QUALCOMM Incorporated (NASDAQ:QCOM) declared a quarterly dividend on Wednesday, April 17th, RTT News reports. Investors of record on Thursday, May 30th will be given a dividend of 0.85 per share by the wireless technology company on Thursday, June 20th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80.

QUALCOMM has increased its dividend by an average of 7.0% annually over the last three years and has increased its dividend every year for the last 21 years. QUALCOMM has a dividend payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect QUALCOMM to earn $8.53 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 37.5%.

QUALCOMM Stock Down 1.8 %

Shares of QCOM stock opened at $161.44 on Friday. The stock has a market cap of $180.17 billion, a P/E ratio of 23.40, a PEG ratio of 2.24 and a beta of 1.41. QUALCOMM has a 52 week low of $101.47 and a 52 week high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $164.74 and its two-hundred day simple moving average is $142.33.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The business had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. Analysts predict that QUALCOMM will post 7.69 EPS for the current fiscal year.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the completion of the sale, the chief executive officer now owns 16,200 shares of the company’s stock, valued at $2,747,520. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock valued at $5,973,728 over the last 90 days. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Milestone Investment Advisors LLC acquired a new position in QUALCOMM during the 1st quarter valued at approximately $26,000. O Dell Group LLC acquired a new stake in shares of QUALCOMM in the fourth quarter worth $28,000. Pacific Center for Financial Services purchased a new position in shares of QUALCOMM during the first quarter worth $31,000. Strategic Investment Solutions Inc. IL acquired a new stake in QUALCOMM during the 1st quarter worth about $32,000. Finally, Coppell Advisory Solutions Corp. acquired a new stake in QUALCOMM during the 4th quarter worth about $45,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Rosenblatt Securities upped their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Piper Sandler upped their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Canaccord Genuity Group upped their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. Finally, Susquehanna upped their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.90.

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.