QUALCOMM (NASDAQ:QCOM) Upgraded to Buy by DZ Bank

DZ Bank upgraded shares of QUALCOMM (NASDAQ:QCOM) from a hold rating to a buy rating in a research report report published on Friday, Marketbeat Ratings reports. DZ Bank currently has $210.00 price objective on the wireless technology company’s stock.

Other equities research analysts have also issued reports about the company. TD Cowen raised their target price on QUALCOMM from $200.00 to $235.00 and gave the company a buy rating in a research report on Tuesday, June 4th. HSBC cut QUALCOMM from a buy rating to a hold rating and set a $200.00 price objective on the stock. in a report on Wednesday, July 17th. Robert W. Baird increased their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the company an outperform rating in a research report on Tuesday, July 23rd. Westpark Capital reiterated a hold rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company lifted their price target on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an underweight rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, QUALCOMM presently has a consensus rating of Moderate Buy and an average price target of $210.63.

QUALCOMM Stock Down 0.9 %

Shares of NASDAQ QCOM opened at $157.95 on Friday. The stock has a 50-day moving average price of $200.91 and a two-hundred day moving average price of $178.59. QUALCOMM has a 12 month low of $104.33 and a 12 month high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.98 and a debt-to-equity ratio of 0.53. The company has a market cap of $176.27 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 1.99 and a beta of 1.27.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. QUALCOMM’s payout ratio is currently 45.70%.

Insiders Place Their Bets

In other news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the transaction, the chief executive officer now owns 8,100 shares in the company, valued at approximately $1,466,100. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $180.69, for a total value of $542,070.00. Following the transaction, the chief financial officer now owns 66,343 shares in the company, valued at $11,987,516.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the transaction, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at approximately $1,466,100. The disclosure for this sale can be found here. Insiders have sold 43,129 shares of company stock worth $8,014,436 in the last three months. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of QCOM. Price T Rowe Associates Inc. MD lifted its holdings in shares of QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares in the last quarter. Norges Bank bought a new stake in QUALCOMM during the fourth quarter worth $2,507,978,000. Matrix Capital Management Company LP bought a new position in shares of QUALCOMM in the 1st quarter valued at $1,171,516,000. Putnam Investments LLC increased its holdings in QUALCOMM by 4.3% in the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after purchasing an additional 263,482 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in QUALCOMM by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,317,857 shares of the wireless technology company’s stock worth $913,752,000 after acquiring an additional 259,403 shares during the period. 74.35% of the stock is currently owned by 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.