QUALCOMM (NASDAQ:QCOM) Stock Price Up 1.4%

QUALCOMM Incorporated (NASDAQ:QCOM) rose 1.4% during mid-day trading on Wednesday . The company traded as high as $204.12 and last traded at $203.62. Approximately 2,391,133 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 8,550,233 shares. The stock had previously closed at $200.85.

Analyst Ratings Changes

QCOM has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price objective on shares of QUALCOMM in a report on Thursday, May 2nd. KeyCorp boosted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. 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 on the stock. Citigroup boosted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, HSBC boosted their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $180.48.

QUALCOMM Trading Up 4.3 %

The business has a fifty day moving average of $174.64 and a 200-day moving average of $154.38. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The company has a market capitalization of $234.76 billion, a P/E ratio of 28.30, a PEG ratio of 2.51 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. Analysts anticipate that QUALCOMM Incorporated will post 7.81 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a $0.85 dividend. 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 1.62%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 43.01%.

Insider Activity at QUALCOMM

In related news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the sale, the director now directly owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The disclosure for this sale can be found here. In the last three months, insiders sold 70,074 shares of company stock valued at $12,258,386. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On QUALCOMM

Several large investors have recently made changes to their positions in the business. Grandview Asset Management LLC increased its position in shares of QUALCOMM by 2.3% during the 1st quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after purchasing an additional 62 shares during the last quarter. Tealwood Asset Management Inc. increased its holdings in QUALCOMM by 0.6% in the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock worth $1,676,000 after acquiring an additional 63 shares during the last quarter. VERITY Wealth Advisors increased its holdings in QUALCOMM by 0.8% in the 1st quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock worth $1,320,000 after acquiring an additional 64 shares during the last quarter. SlateStone Wealth LLC increased its holdings in QUALCOMM by 1.7% in the 1st quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company’s stock worth $656,000 after acquiring an additional 65 shares during the last quarter. Finally, Verus Capital Partners LLC increased its holdings in QUALCOMM by 1.4% in the 1st quarter. Verus Capital Partners LLC now owns 4,573 shares of the wireless technology company’s stock worth $774,000 after acquiring an additional 65 shares during the last quarter. 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.