QUALCOMM, Inc. (NASDAQ:QCOM) announced a quarterly dividend on Friday, January 12th, RTT News reports. Investors of record on Wednesday, February 28th will be paid a dividend of 0.57 per share by the wireless technology company on Wednesday, March 21st. This represents a $2.28 annualized dividend and a yield of 3.49%.
QUALCOMM has increased its dividend payment by an average of 11.6% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. QUALCOMM has a payout ratio of 74.3% meaning its dividend is sufficiently covered by earnings. Analysts expect QUALCOMM to earn $3.18 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 71.7%.
QUALCOMM (QCOM) traded down $0.05 during mid-day trading on Friday, reaching $65.38. The company’s stock had a trading volume of 4,987,371 shares, compared to its average volume of 5,794,563. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. The stock has a market cap of $96,380.00, a price-to-earnings ratio of 39.62, a PEG ratio of 1.89 and a beta of 1.39. QUALCOMM has a 1-year low of $48.92 and a 1-year high of $69.28.
In related news, EVP Matthew S. Grob sold 43,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total value of $2,810,050.00. Following the completion of the sale, the executive vice president now owns 43,000 shares in the company, valued at approximately $2,810,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michelle M. Sterling sold 7,840 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total value of $521,830.40. The disclosure for this sale can be found here. Insiders sold a total of 72,989 shares of company stock valued at $4,678,794 in the last 90 days. 0.24% of the stock is currently owned by corporate insiders.
A number of research analysts have weighed in on QCOM shares. Northland Securities raised QUALCOMM from a “market perform” rating to an “outperform” rating and set a $62.50 target price for the company in a report on Friday, September 15th. Zacks Investment Research lowered QUALCOMM from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Stifel Nicolaus reiterated a “buy” rating on shares of QUALCOMM in a research report on Thursday, October 12th. Mizuho reiterated a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. Finally, BMO Capital Markets lifted their price target on QUALCOMM from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $66.06.
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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