QUALCOMM (NASDAQ:QCOM) Trading Up 0.5%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price rose 0.5% during trading 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 Ratings Changes

Several research firms have recently issued reports on QCOM. KeyCorp lifted their price target on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Rosenblatt Securities boosted their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Mizuho upped their target price on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Barclays boosted their price target on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Finally, Benchmark initiated coverage on QUALCOMM in a research note on Tuesday. They issued a “buy” rating and a $200.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.86.

QUALCOMM Trading Up 0.7 %

The company has a market cap of $180.07 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.20 and a beta of 1.41. 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 business has a 50-day moving average price of $165.24 and a two-hundred day moving average price of $143.83.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, analysts predict that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

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

Insider Activity at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the transaction, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at $3,875,850. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the transaction, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at $3,875,850. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now directly 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 quarter, insiders sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of QCOM. IRON Financial LLC bought a new stake in QUALCOMM during the first quarter worth about $388,000. Bell Bank raised its stake in QUALCOMM by 19.5% in the first quarter. Bell Bank now owns 4,672 shares of the wireless technology company’s stock valued at $791,000 after buying an additional 762 shares during the period. Triad Wealth Partners LLC bought a new stake in QUALCOMM in the first quarter valued at approximately $247,000. Busey Bank raised its stake in QUALCOMM by 0.5% in the first quarter. Busey Bank now owns 151,034 shares of the wireless technology company’s stock valued at $25,570,000 after buying an additional 818 shares during the period. Finally, Precedent Wealth Partners LLC raised its stake in QUALCOMM by 9.5% in the first quarter. Precedent Wealth Partners LLC now owns 6,571 shares of the wireless technology company’s stock valued at $1,112,000 after buying an additional 568 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

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.