QUALCOMM (NASDAQ:QCOM) Trading Up 0.5%

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price was up 0.5% on Monday . The company traded as high as $159.63 and last traded at $158.43. Approximately 1,418,241 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 8,542,063 shares. The stock had previously closed at $157.63.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on QCOM shares. Rosenblatt Securities upped their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Susquehanna upped their price target on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research report on Thursday, February 1st. Benchmark began coverage on QUALCOMM in a research report on Tuesday. They set a “buy” rating and a $200.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.86.

QUALCOMM Stock Performance

The business has a 50 day moving average price of $165.24 and a two-hundred day moving average price of $143.83. The stock has a market cap of $180.07 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88.

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 analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. QUALCOMM’s dividend payout ratio is 46.38%.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the transaction, the chief technology officer now directly owns 269,893 shares in the company, valued at $43,018,245.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

Several institutional investors have recently modified their holdings of the business. Grandview Asset Management LLC boosted its position in shares of QUALCOMM by 2.3% during the first quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after buying an additional 62 shares during the last quarter. Tealwood Asset Management Inc. boosted its position in QUALCOMM by 0.6% in the first quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock worth $1,676,000 after purchasing an additional 63 shares during the last quarter. VERITY Wealth Advisors boosted its position in QUALCOMM by 0.8% in the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock worth $1,320,000 after purchasing an additional 64 shares during the last quarter. Cassaday & Co Wealth Management LLC boosted its position in QUALCOMM by 1.2% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock worth $831,000 after purchasing an additional 66 shares during the last quarter. Finally, Transform Wealth LLC boosted its position in QUALCOMM by 2.3% in the first quarter. Transform Wealth LLC now owns 2,916 shares of the wireless technology company’s stock worth $494,000 after purchasing an additional 66 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Company Profile

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.