QUALCOMM Incorporated (QCOM) to Issue Quarterly Dividend of $0.57 on September 20th
QUALCOMM Incorporated (NASDAQ:QCOM) declared a quarterly dividend on Friday, July 14th, Wall Street Journal reports. Stockholders of record on Wednesday, August 30th will be given a dividend of 0.57 per share by the wireless technology company on Wednesday, September 20th. This represents a $2.28 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Monday, August 28th.
QUALCOMM has raised its dividend payment by an average of 16.8% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. QUALCOMM has a payout ratio of 62.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect QUALCOMM to earn $3.38 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 67.5%.
Shares of QUALCOMM (NASDAQ:QCOM) opened at 52.35 on Wednesday. The company’s 50-day moving average price is $53.95 and its 200 day moving average price is $55.57. QUALCOMM has a 52 week low of $51.05 and a 52 week high of $71.62. The company has a market cap of $77.27 billion, a P/E ratio of 20.05 and a beta of 1.29.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The company’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.16 EPS. Equities research analysts anticipate that QUALCOMM will post $4.16 earnings per share for the current fiscal year.
In other QUALCOMM news, EVP Alexander H. Rogers sold 470 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total transaction of $26,921.60. Following the transaction, the executive vice president now owns 3,049 shares in the company, valued at $174,646.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,332 shares of company stock worth $2,875,886. 0.24% of the stock is currently owned by insiders.
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Several analysts have recently commented on QCOM shares. Mizuho reissued a “buy” rating on shares of QUALCOMM in a report on Monday, May 1st. J P Morgan Chase & Co reduced their price objective on QUALCOMM from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, May 2nd. Standpoint Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Friday, April 28th. BMO Capital Markets reaffirmed a “market perform” rating and set a $54.00 price objective on shares of QUALCOMM in a report on Tuesday, May 2nd. Finally, Canaccord Genuity reduced their price objective on QUALCOMM from $75.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM presently has a consensus rating of “Hold” and an average target price of $63.96.
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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