QUALCOMM (NASDAQ:QCOM) Shares Up 2.7%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price shot up 2.7% during trading on Friday . The stock traded as high as $203.94 and last traded at $200.37. 4,097,043 shares were traded during trading, a decline of 56% from the average session volume of 9,278,711 shares. The stock had previously closed at $195.15.

Wall Street Analysts Forecast Growth

Several research firms recently commented on QCOM. UBS Group boosted their price target on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Mizuho upped their price objective on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Robert W. Baird increased their price target on QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Canaccord Genuity Group increased their price target on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Barclays upped their price objective on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $192.13.

QUALCOMM Trading Up 2.2 %

The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The stock has a market capitalization of $222.69 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 2.40 and a beta of 1.30. The business has a 50 day simple moving average of $194.32 and a 200-day simple moving average of $168.60.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. As a group, equities analysts expect that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Transactions at QUALCOMM

In other news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,116 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly 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 valued at $8,206,875 over the last three months. Company insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Algert Global LLC bought a new stake in QUALCOMM in the third quarter valued at approximately $545,000. Rehmann Capital Advisory Group increased its stake in shares of QUALCOMM by 3.6% during the third quarter. Rehmann Capital Advisory Group now owns 10,312 shares of the wireless technology company’s stock worth $1,145,000 after purchasing an additional 361 shares during the period. United Services Automobile Association increased its stake in shares of QUALCOMM by 2.2% during the third quarter. United Services Automobile Association now owns 171,656 shares of the wireless technology company’s stock worth $19,064,000 after purchasing an additional 3,668 shares during the period. First Business Financial Services Inc. increased its stake in shares of QUALCOMM by 1.3% during the third quarter. First Business Financial Services Inc. now owns 9,052 shares of the wireless technology company’s stock worth $1,005,000 after purchasing an additional 114 shares during the period. Finally, Per Stirling Capital Management LLC. increased its stake in shares of QUALCOMM by 2.8% during the third quarter. Per Stirling Capital Management LLC. now owns 5,651 shares of the wireless technology company’s stock worth $628,000 after purchasing an additional 155 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

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.