Brokerages Set QUALCOMM Incorporated (NASDAQ:QCOM) PT at $188.74

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) have been assigned an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $192.13.

Several equities analysts have recently commented on the stock. HSBC boosted their target price 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. JPMorgan Chase & Co. boosted their target price 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. Piper Sandler boosted their target price on shares of QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. TD Cowen boosted their target price 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, Bank of America lifted their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 31st.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the sale, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at approximately $70,207.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the sale, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at approximately $70,207.38. The transaction 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 company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at $9,623.34. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock valued at $8,206,875 in the last ninety days. 0.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors have recently modified their holdings of QCOM. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the 1st quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. lifted its position in shares of QUALCOMM by 327.1% during the 4th 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. Richardson Capital Management LLC acquired a new position in shares of QUALCOMM during the 1st quarter valued at $37,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of QUALCOMM during the 4th quarter valued at $32,000. Finally, Cherry Tree Wealth Management LLC lifted its position in shares of QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares during the period. 74.35% of the stock is owned by institutional investors.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $212.53 on Friday. QUALCOMM has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The company has a 50-day simple moving average of $192.36 and a two-hundred day simple moving average of $166.92. The stock has a market capitalization of $237.18 billion, a price-to-earnings ratio of 28.57, a price-to-earnings-growth ratio of 2.62 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.11. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. Analysts forecast that QUALCOMM will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.60%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s payout ratio is presently 45.70%.

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.