QUALCOMM (NASDAQ:QCOM) Trading 1% Higher

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price was up 1% during mid-day trading on Monday . The stock traded as high as $182.40 and last traded at $181.41. Approximately 1,559,565 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 8,671,343 shares. The stock had previously closed at $179.64.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on QCOM. Benchmark restated a “buy” rating and set a $200.00 target price on shares of QUALCOMM in a report on Friday. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a report on Thursday. HSBC increased their price objective on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Rosenblatt Securities increased their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Susquehanna raised their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $179.36.

QUALCOMM Price Performance

The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $202.94 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 2.27 and a beta of 1.33. The stock has a 50-day moving average price of $167.69 and a 200 day moving average price of $147.08.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.87%. QUALCOMM’s dividend payout ratio (DPR) is currently 43.01%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at $9,623.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,316 shares of company stock valued at $7,796,128. 0.08% of the stock is owned by corporate insiders.

Institutional Trading of QUALCOMM

Several institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of QUALCOMM in the fourth quarter worth $2,507,978,000. International Assets Investment Management LLC grew its stake in shares of QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after acquiring an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after acquiring an additional 2,659,323 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of QUALCOMM by 53.6% in the third quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock worth $586,760,000 after acquiring an additional 1,842,868 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

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.