QUALCOMM (NASDAQ:QCOM) Given New $185.00 Price Target at Barclays

QUALCOMM (NASDAQ:QCOM) had its target price increased by Barclays from $155.00 to $185.00 in a research note released on Thursday morning, Benzinga reports. They currently have an overweight rating on the wireless technology company’s stock.

QCOM has been the subject of several other research reports. Mizuho upped their price target on shares of QUALCOMM from $160.00 to $180.00 and gave the company a buy rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on shares of QUALCOMM from $170.00 to $185.00 and gave the company an overweight rating in a report on Thursday. Robert W. Baird boosted their price objective on shares of QUALCOMM from $160.00 to $200.00 and gave the company an outperform rating in a research report on Thursday. HSBC raised their target price on QUALCOMM from $170.00 to $190.00 and gave the stock a buy rating in a report on Tuesday. Finally, Canaccord Genuity Group boosted their price target on QUALCOMM from $152.00 to $175.00 and gave the company a buy rating in a report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has an average rating of Moderate Buy and a consensus price target of $179.36.

QUALCOMM Stock Performance

QCOM stock traded down $0.46 on Thursday, hitting $179.64. The company had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59. QUALCOMM has a 12-month low of $101.47 and a 12-month high of $183.19. The stock has a market cap of $200.48 billion, a price-to-earnings ratio of 24.15, a P/E/G ratio of 2.47 and a beta of 1.33. The stock’s 50-day simple moving average is $167.69 and its 200 day simple moving average is $146.59.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, equities research analysts expect that QUALCOMM will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 43.01%.

Insider Activity at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 sale, the chief technology officer now directly owns 269,893 shares in the company, valued at $43,018,245.27. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s 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 sale, the chief technology officer now owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The disclosure for this sale can be found here. Insiders sold a total of 44,260 shares of company stock worth $7,429,728 in the last quarter. 0.08% of the stock is owned by company insiders.

Institutional Trading of QUALCOMM

Several institutional investors and hedge funds have recently made changes to their positions in the company. 9258 Wealth Management LLC increased its position in QUALCOMM by 0.9% during the 1st quarter. 9258 Wealth Management LLC now owns 10,258 shares of the wireless technology company’s stock valued at $1,737,000 after purchasing an additional 91 shares during the period. Gould Asset Management LLC CA bought a new position in shares of QUALCOMM during the first quarter valued at approximately $226,000. WBI Investments LLC increased its holdings in QUALCOMM by 50.3% during the first quarter. WBI Investments LLC now owns 13,111 shares of the wireless technology company’s stock valued at $2,220,000 after buying an additional 4,387 shares during the period. Team Hewins LLC increased its holdings in QUALCOMM by 2.2% during the first quarter. Team Hewins LLC now owns 7,761 shares of the wireless technology company’s stock valued at $1,314,000 after buying an additional 167 shares during the period. Finally, Affinity Investment Advisors LLC raised its stake in QUALCOMM by 4.2% in the first quarter. Affinity Investment Advisors LLC now owns 9,997 shares of the wireless technology company’s stock worth $1,692,000 after buying an additional 400 shares in the last quarter. 74.35% of the stock is currently owned by 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.