QUALCOMM Incorporated (NASDAQ:QCOM – Get Free Report) 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 yield of 2.07%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80.
QUALCOMM has raised its dividend by an average of 7.0% annually over the last three years and has increased its dividend annually for the last 21 consecutive years. QUALCOMM has a dividend payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect QUALCOMM to earn $8.51 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 37.6%.
QUALCOMM Stock Down 2.5 %
QCOM stock opened at $164.32 on Thursday. 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 has a market cap of $183.38 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 2.30 and a beta of 1.41. The business has a 50-day simple moving average of $164.47 and a 200 day simple moving average of $142.20. QUALCOMM has a 52 week low of $101.47 and a 52 week high of $177.59.
Analyst Upgrades and Downgrades
QCOM has been the subject of several recent analyst reports. Rosenblatt Securities upped their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Cantor Fitzgerald raised their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Evercore ISI began coverage on shares of QUALCOMM in a research report on Tuesday. They set an “in-line” rating and a $177.00 price objective for the company. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Finally, TD Cowen boosted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.90.
View Our Latest Report on QCOM
Insider Activity
In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction 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 transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,360 shares of company stock valued at $7,184,678. Company insiders own 0.08% of the company’s stock.
Institutional Investors Weigh In On QUALCOMM
Large investors have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $79,000. Live Oak Investment Partners bought a new position in QUALCOMM during the fourth quarter worth $75,000. KB Financial Partners LLC bought a new position in QUALCOMM during the first quarter worth $71,000. Hobbs Group Advisors LLC acquired a new stake in QUALCOMM in the fourth quarter worth $67,000. Finally, Pin Oak Investment Advisors Inc. increased its stake in QUALCOMM by 23.1% in the second quarter. Pin Oak Investment Advisors Inc. now owns 539 shares of the wireless technology company’s stock valued at $64,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.
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.
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