QUALCOMM (NASDAQ:QCOM) had its price target increased by Susquehanna Bancshares from $110.00 to $125.00 in a report published on Thursday morning, The Fly reports.
QCOM has been the subject of a number of other reports. Charter Equity restated a hold rating on shares of QUALCOMM in a report on Thursday, April 30th. Rosenblatt Securities upped their price objective on QUALCOMM from $105.00 to $130.00 and gave the stock a buy rating in a report on Thursday. Morgan Stanley upped their price objective on QUALCOMM from $102.00 to $121.00 and gave the stock an overweight rating in a report on Thursday. Goldman Sachs Group downgraded QUALCOMM from a neutral rating to a sell rating and dropped their price objective for the stock from $77.00 to $61.00 in a report on Friday, April 17th. Finally, Mizuho reiterated a buy rating and issued a $105.00 price target (up from $91.00) on shares of QUALCOMM in a report on Wednesday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $106.36.
Shares of QUALCOMM stock traded down $1.58 during trading hours on Thursday, reaching $105.61. 16,770,274 shares of the company’s stock were exchanged, compared to its average volume of 8,403,357. QUALCOMM has a 52-week low of $58.00 and a 52-week high of $107.75. The firm has a market capitalization of $119.16 billion, a price-to-earnings ratio of 44.56, a price-to-earnings-growth ratio of 1.95 and a beta of 1.34. The company has a fifty day moving average of $90.67 and a 200-day moving average of $82.54. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 4.67.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be issued a $0.65 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $2.60 dividend on an annualized basis and a yield of 2.46%. QUALCOMM’s dividend payout ratio is currently 91.55%.
In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,925 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $102.42, for a total value of $401,998.50. Following the sale, the chief financial officer now owns 17,790 shares in the company, valued at $1,822,051.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Erin L. Polek sold 1,646 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $79.47, for a total transaction of $130,807.62. The disclosure for this sale can be found here. Insiders sold 235,740 shares of company stock worth $22,024,427 in the last three months. 0.12% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of QUALCOMM by 1.7% in the first quarter. Geode Capital Management LLC now owns 16,747,551 shares of the wireless technology company’s stock valued at $1,131,038,000 after purchasing an additional 287,438 shares during the period. Capital World Investors increased its stake in shares of QUALCOMM by 5.2% in the first quarter. Capital World Investors now owns 15,268,873 shares of the wireless technology company’s stock valued at $1,032,939,000 after purchasing an additional 751,290 shares during the period. Clearbridge Investments LLC increased its stake in shares of QUALCOMM by 6.0% in the first quarter. Clearbridge Investments LLC now owns 10,167,014 shares of the wireless technology company’s stock valued at $687,798,000 after purchasing an additional 571,593 shares during the period. Royal Bank of Canada increased its stake in shares of QUALCOMM by 1.6% in the first quarter. Royal Bank of Canada now owns 8,278,895 shares of the wireless technology company’s stock valued at $560,068,000 after purchasing an additional 127,006 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of QUALCOMM by 0.8% during the first quarter. Legal & General Group Plc now owns 7,646,576 shares of the wireless technology company’s stock valued at $519,692,000 after acquiring an additional 62,298 shares during the period. Institutional investors own 74.50% of the company’s stock.
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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