QUALCOMM (NASDAQ:QCOM) Trading 1.3% Higher

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price traded up 1.3% on Friday . The company traded as high as $165.85 and last traded at $165.49. 1,405,367 shares traded hands during trading, a decline of 83% from the average session volume of 8,449,772 shares. The stock had previously closed at $163.30.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Benchmark assumed coverage on QUALCOMM in a research note on Tuesday. They set a “buy” rating and a $200.00 price objective for the company. Susquehanna upped their target price on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Mizuho upped their target price on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Rosenblatt Securities upped their target price on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $158.86.

QUALCOMM Stock Performance

The company has a market cap of $184.88 billion, a P/E ratio of 23.98, a PEG ratio of 2.24 and a beta of 1.41. The business’s 50 day simple moving average is $165.58 and its 200 day simple moving average is $144.10. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate 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 net margin of 21.39% and a return on equity of 38.06%. Sell-side analysts predict that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.05%. 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 (DPR) is presently 46.38%.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction 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 sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction 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 completion of 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 accessible through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock worth $5,973,728 in the last three months. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Institutional investors and hedge funds have recently made changes to their positions in the business. Financial Gravity Asset Management Inc. boosted its stake in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the period. WFA Asset Management Corp purchased a new stake in QUALCOMM in the 1st quarter valued at about $27,000. Legacy Financial Group LLC purchased a new stake in QUALCOMM in the 3rd quarter valued at about $29,000. CarsonAllaria Wealth Management Ltd. boosted its position in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares during the period. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in QUALCOMM in the 4th quarter valued at about $32,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

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.