QUALCOMM (NASDAQ:QCOM) PT Raised to $170.00 at Citigroup

QUALCOMM (NASDAQ:QCOM) had its price target raised by Citigroup from $160.00 to $170.00 in a report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the wireless technology company’s stock.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company lifted their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the company an underweight rating in a report on Thursday. Rosenblatt Securities lifted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company a buy rating in a report on Thursday, February 1st. Barclays lifted their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the company an overweight rating in a report on Thursday. StockNews.com raised shares of QUALCOMM from a buy rating to a strong-buy rating in a report on Tuesday, April 30th. Finally, Evercore ISI started coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They set an in-line rating and a $177.00 target price for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $179.36.

QUALCOMM Stock Performance

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

QUALCOMM Increases Dividend

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

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now directly owns 253,893 shares in the company, valued at approximately $46,208,526. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated 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 owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief technology officer now directly 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 a total of 44,260 shares of company stock worth $7,429,728 over the last 90 days. 0.08% of the stock is owned by insiders.

Institutional Trading of QUALCOMM

A number of large investors have recently made changes to their positions in QCOM. Financial Gravity Asset Management Inc. raised its holdings in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the last quarter. WFA Asset Management Corp purchased a new stake in QUALCOMM during the first quarter valued at about $27,000. Legacy Financial Group LLC purchased a new stake in QUALCOMM during the third quarter valued at about $29,000. 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 valued at $30,000 after acquiring an additional 157 shares during the period. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter worth about $32,000. Institutional investors and hedge funds 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.