JPMorgan Chase & Co. Increases QUALCOMM (NASDAQ:QCOM) Price Target to $185.00

QUALCOMM (NASDAQ:QCOM) had its target price upped by JPMorgan Chase & Co. from $170.00 to $185.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the wireless technology company’s stock.

Other equities research analysts also recently issued reports about the stock. HSBC boosted their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. Barclays raised their target price on QUALCOMM from $140.00 to $155.00 and gave the stock an overweight rating in a research report on Tuesday, January 16th. Cantor Fitzgerald reiterated a neutral rating and set a $190.00 target price on shares of QUALCOMM in a research report on Thursday. Susquehanna increased their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a positive rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company boosted their price objective on QUALCOMM from $120.00 to $140.00 and gave the company an underweight rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of Moderate Buy and a consensus price target of $179.36.

QUALCOMM Stock Up 0.9 %

QCOM traded up $1.53 during midday trading on Thursday, hitting $181.17. The company had a trading volume of 521,773 shares, compared to its average volume of 8,659,256. QUALCOMM has a 52 week low of $101.47 and a 52 week high of $183.19. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $202.19 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 2.27 and a beta of 1.33. The stock’s 50 day moving average price is $167.69 and its 200 day moving average price is $147.08.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio is currently 43.01%.

Insider Activity at QUALCOMM

In other QUALCOMM 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 value of $55,586.93. Following the completion of the transaction, 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 can be accessed through the SEC website. In other QUALCOMM 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 value of $55,586.93. Following the completion of the transaction, 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 can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the transaction, the chief technology officer now owns 253,893 shares of the company’s stock, valued at $46,208,526. The disclosure for this sale can be found here. Insiders sold 44,260 shares of company stock worth $7,429,728 in the last three months. 0.08% of the stock is owned by insiders.

Institutional Trading of QUALCOMM

Hedge funds and other institutional investors have recently modified their holdings of the business. Simon Quick Advisors LLC grew its position in QUALCOMM by 10.6% during the 3rd quarter. Simon Quick Advisors LLC now owns 2,776 shares of the wireless technology company’s stock valued at $308,000 after purchasing an additional 265 shares during the last quarter. Legacy Financial Group LLC bought a new position in QUALCOMM during the 3rd quarter valued at about $29,000. NorthRock Partners LLC lifted its stake in QUALCOMM by 12.5% during the 3rd quarter. NorthRock Partners LLC now owns 4,418 shares of the wireless technology company’s stock valued at $491,000 after acquiring an additional 490 shares during the period. Horst & Graben Wealth Management LLC lifted its stake in QUALCOMM by 50.7% during the 3rd quarter. Horst & Graben Wealth Management LLC now owns 2,812 shares of the wireless technology company’s stock valued at $312,000 after acquiring an additional 946 shares during the period. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in QUALCOMM by 1.7% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 543,300 shares of the wireless technology company’s stock valued at $60,339,000 after acquiring an additional 9,200 shares during the period. 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.