QUALCOMM (NASDAQ:QCOM) Stock Price Up 0.6%

QUALCOMM Incorporated (NASDAQ:QCOM) shot up 0.6% during mid-day trading on Tuesday . The stock traded as high as $162.26 and last traded at $161.13. 1,495,060 shares were traded during trading, a decline of 82% from the average session volume of 8,532,522 shares. The stock had previously closed at $160.18.

Analysts Set New Price Targets

A number of brokerages have recently commented on QCOM. Barclays lifted their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Rosenblatt Securities lifted their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Evercore ISI started coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective on the stock. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Finally, TD Cowen boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.86.

QUALCOMM Price Performance

The company has a fifty day simple moving average of $165.01 and a two-hundred day simple moving average of $143.47. The stock has a market capitalization of $180.51 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 2.15 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, equities research analysts expect that QUALCOMM Incorporated will post 7.69 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company 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 dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.10%. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock worth $5,973,728 over the last three months. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

A number of hedge funds have recently modified their holdings of QCOM. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the first quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares during the period. Richardson Capital Management LLC acquired a new stake in QUALCOMM during the 1st quarter worth about $37,000. DiNuzzo Private Wealth Inc. bought a new position in shares of QUALCOMM in the 4th quarter worth about $32,000. Finally, Cherry Tree Wealth Management LLC boosted 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 purchasing an additional 115 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

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.