QCOM has been the subject of several other reports. Cowen reaffirmed an outperform rating and set a $80.00 price objective (down from $100.00) on shares of QUALCOMM in a report on Thursday, May 23rd. Goldman Sachs Group began coverage on QUALCOMM in a research note on Thursday, May 23rd. They issued a neutral rating and a $73.00 price objective on the stock. Edward Jones cut QUALCOMM from a hold rating to a sell rating and set a $69.31 price objective for the company. in a research report on Thursday, May 23rd. TheStreet upgraded shares of QUALCOMM from a c+ rating to a b- rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada reiterated a sector perform rating and set a $79.00 target price on shares of QUALCOMM in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $79.68.
QCOM opened at $78.71 on Friday. The business has a 50 day moving average price of $74.33 and a 200 day moving average price of $70.35. QUALCOMM has a twelve month low of $49.10 and a twelve month high of $90.34. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.61 and a current ratio of 1.77. The firm has a market cap of $95.84 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 2.18 and a beta of 1.59.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Wednesday, September 11th. QUALCOMM’s dividend payout ratio (DPR) is currently 77.74%.
In other QUALCOMM news, SVP Erin L. Polek sold 1,478 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total value of $103,992.08. Following the completion of the sale, the senior vice president now owns 1,386 shares of the company’s stock, valued at $97,518.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark D. Mclaughlin bought 2,705 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was purchased at an average price of $73.84 per share, for a total transaction of $199,737.20. Following the completion of the acquisition, the director now owns 5,220 shares of the company’s stock, valued at approximately $385,444.80. The disclosure for this purchase can be found here. 0.11% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. grew its position in shares of QUALCOMM by 2.5% in the 2nd quarter. Bessemer Group Inc. now owns 9,663 shares of the wireless technology company’s stock valued at $735,000 after purchasing an additional 233 shares during the period. Cincinnati Financial Corp increased its position in shares of QUALCOMM by 4.9% during the second quarter. Cincinnati Financial Corp now owns 957,500 shares of the wireless technology company’s stock worth $72,837,000 after acquiring an additional 45,000 shares in the last quarter. Nordea Investment Management AB increased its position in shares of QUALCOMM by 65.1% during the first quarter. Nordea Investment Management AB now owns 436,913 shares of the wireless technology company’s stock worth $24,915,000 after acquiring an additional 172,283 shares in the last quarter. Jennison Associates LLC increased its position in shares of QUALCOMM by 996.4% during the second quarter. Jennison Associates LLC now owns 15,287,530 shares of the wireless technology company’s stock worth $1,162,922,000 after acquiring an additional 13,893,238 shares in the last quarter. Finally, Tredje AP fonden raised its holdings in shares of QUALCOMM by 1,130.2% during the first quarter. Tredje AP fonden now owns 127,182 shares of the wireless technology company’s stock worth $7,253,000 after acquiring an additional 116,844 shares during the period. 78.73% of the stock is owned by institutional investors.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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