QUALCOMM (NASDAQ:QCOM) Trading 2.7% Higher

QUALCOMM Incorporated (NASDAQ:QCOMGet Free Report) shares traded up 2.7% on Wednesday . The stock traded as high as $214.59 and last traded at $214.18. 2,428,700 shares were traded during trading, a decline of 72% from the average session volume of 8,824,405 shares. The stock had previously closed at $208.52.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. KeyCorp increased their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. increased their price target on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Wells Fargo & Company increased their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. TD Cowen increased their price target on shares of QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Finally, HSBC increased their price target on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.74.

View Our Latest Research Report on QCOM

QUALCOMM Stock Down 1.1 %

The stock has a market cap of $240.31 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 2.62 and a beta of 1.30. 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’s 50-day moving average price is $186.73 and its 200 day moving average price is $163.11.

QUALCOMM (NASDAQ:QCOMGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. As a group, analysts forecast that QUALCOMM Incorporated will post 7.83 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.58%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insiders Place Their Bets

In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the transaction, the director now directly owns 5,902 shares in the company, valued at approximately $1,185,947.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 value of $616,684.86. Following the completion of the sale, the director now directly owns 5,902 shares in the company, valued at $1,185,947.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares of the company’s stock, valued at $70,207.38. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock worth $8,206,875 in the last three months. 0.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On QUALCOMM

Institutional investors and hedge funds have recently modified their holdings of the company. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the first quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares during the period. Richardson Capital Management LLC acquired a new stake in shares of QUALCOMM during the first quarter worth about $37,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $32,000. Finally, Cherry Tree Wealth Management LLC lifted its holdings in shares of QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Company Profile

(Get Free Report)

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.

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