QUALCOMM Incorporated (QCOM) To Go Ex-Dividend on May 30th

QUALCOMM Incorporated (NASDAQ:QCOM) declared a quarterly dividend on Wednesday, April 17th, RTT News reports. Shareholders of record on Thursday, May 30th will be given a dividend of 0.85 per share by the wireless technology company on Thursday, June 20th. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80.

QUALCOMM has increased its dividend payment by an average of 7.0% per year over the last three years and has increased its dividend every year for the last 21 years. QUALCOMM has a dividend payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect QUALCOMM to earn $8.53 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 37.5%.

QUALCOMM Trading Down 1.8 %

Shares of QCOM opened at $161.44 on Friday. QUALCOMM has a 52-week low of $101.47 and a 52-week high of $177.59. The business’s fifty day moving average is $164.74 and its 200-day moving average is $142.33. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The firm has a market cap of $180.17 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 2.24 and a beta of 1.41.

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

Wall Street Analyst Weigh In

QCOM has been the topic of several recent analyst reports. Piper Sandler lifted their price target on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Cantor Fitzgerald raised their price objective on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a report on Thursday, February 1st. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Finally, JPMorgan Chase & Co. cut their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.90.

Insider Activity

In related news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred 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 owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock valued at $5,973,728 in the last ninety days. 0.08% of the stock is owned by company insiders.

Hedge Funds Weigh In On QUALCOMM

Several institutional investors have recently bought and sold shares of the company. Hobbs Group Advisors LLC purchased a new position in QUALCOMM in the fourth quarter valued at approximately $67,000. Sanibel Captiva Trust Company Inc. purchased a new stake in shares of QUALCOMM during the fourth quarter worth $3,862,000. Childress Capital Advisors LLC lifted its position in shares of QUALCOMM by 12.7% during the fourth quarter. Childress Capital Advisors LLC now owns 2,760 shares of the wireless technology company’s stock worth $399,000 after acquiring an additional 311 shares in the last quarter. Harbour Investments Inc. lifted its position in shares of QUALCOMM by 11.6% during the fourth quarter. Harbour Investments Inc. now owns 7,220 shares of the wireless technology company’s stock worth $1,044,000 after acquiring an additional 748 shares in the last quarter. Finally, O Dell Group LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth $28,000. 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.