QUALCOMM (NASDAQ:QCOM) Stock Price Up 0.6%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price was up 0.6% during trading on Tuesday . The company traded as high as $162.26 and last traded at $161.13. Approximately 1,495,060 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 8,532,522 shares. The stock had previously closed at $160.18.

Analyst Ratings Changes

QCOM has been the subject of a number of recent analyst reports. Evercore ISI initiated coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price for the company. Canaccord Genuity Group boosted their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Cantor Fitzgerald boosted their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Susquehanna increased their price objective on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $158.86.

QUALCOMM Stock Up 1.0 %

The company has a market cap of $180.51 billion, a P/E ratio of 23.35, a P/E/G ratio of 2.15 and a beta of 1.41. The stock has a 50-day moving average of $165.01 and a two-hundred day moving average of $143.47. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. On average, research analysts anticipate that QUALCOMM Incorporated will post 7.69 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.10%. QUALCOMM’s payout ratio is currently 46.38%.

Insider Activity

In related news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Neil Martin sold 371 shares of the company’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 sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s 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 approximately $43,018,245.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QUALCOMM

Several institutional investors and hedge funds have recently bought and sold shares of QCOM. Masso Torrence Wealth Management Inc. increased its position in QUALCOMM by 2.1% during the 1st quarter. Masso Torrence Wealth Management Inc. now owns 6,840 shares of the wireless technology company’s stock valued at $1,158,000 after purchasing an additional 139 shares during the period. Nations Financial Group Inc. IA ADV boosted its holdings in shares of QUALCOMM by 55.0% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 15,360 shares of the wireless technology company’s stock valued at $2,601,000 after buying an additional 5,453 shares in the last quarter. Tyche Wealth Partners LLC purchased a new stake in shares of QUALCOMM in the 1st quarter worth about $302,000. Fifth Third Bancorp increased its stake in shares of QUALCOMM by 3.9% in the 1st quarter. Fifth Third Bancorp now owns 436,304 shares of the wireless technology company’s stock worth $73,866,000 after acquiring an additional 16,296 shares in the last quarter. Finally, McAdam LLC bought a new stake in QUALCOMM during the first quarter worth about $270,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

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.