QUALCOMM (NASDAQ:QCOM) Trading Up 1.4%

QUALCOMM Incorporated (NASDAQ:QCOM) shares were up 1.4% during trading on Wednesday . The stock traded as high as $165.93 and last traded at $163.57. Approximately 1,593,751 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 8,510,954 shares. The stock had previously closed at $161.35.

Analyst Ratings Changes

Several analysts recently commented on QCOM shares. Mizuho raised 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. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research report on Thursday, February 1st. JPMorgan Chase & Co. lowered their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Benchmark began coverage on QUALCOMM in a research report on Tuesday. They set a “buy” rating and a $200.00 price target on the stock. Finally, Susquehanna lifted their price target on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. One 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.86.

QUALCOMM Trading Up 1.4 %

The firm has a market cap of $182.61 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 2.20 and a beta of 1.41. The company has a 50-day moving average price of $165.24 and a 200 day moving average price of $143.83. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last issued its 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. The business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, research analysts anticipate 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. Investors of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 2.08%. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Insider Activity at QUALCOMM

In related news, 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 sale, the chief executive officer now 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 is available through the SEC website. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’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 transaction, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,260 shares of company stock valued at $5,973,728. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Institutional investors have recently bought and sold shares of the stock. WFA Asset Management Corp bought a new position in shares of QUALCOMM in the first quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. grew its position in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after buying an additional 157 shares in the last quarter. Richardson Capital Management LLC acquired a new stake in QUALCOMM during the first quarter worth about $37,000. DiNuzzo Private Wealth Inc. acquired a new stake in QUALCOMM during the fourth quarter worth about $32,000. Finally, Cherry Tree Wealth Management LLC grew its position in QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after buying an additional 115 shares in the last quarter. 74.35% of the stock is currently owned by 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.