Shares of QUALCOMM Incorporated (NASDAQ:QCOM) have been given a consensus recommendation of “Buy” by the twenty-nine research firms that are covering the firm, Marketbeat reports. Eleven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $163.65.
A number of brokerages recently issued reports on QCOM. JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $185.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, March 4th. Citigroup lowered their target price on shares of QUALCOMM from $165.00 to $154.00 in a research note on Thursday, April 29th. Piper Sandler boosted their target price on shares of QUALCOMM from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, April 29th. Mizuho boosted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, April 29th. Finally, Evercore ISI reiterated an “in-line” rating and set a $150.00 target price (down previously from $195.00) on shares of QUALCOMM in a research note on Monday, April 19th.
Shares of NASDAQ:QCOM opened at $134.22 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.72 and a debt-to-equity ratio of 2.05. The stock has a fifty day moving average of $134.68. The company has a market capitalization of $151.40 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 0.93 and a beta of 1.32. QUALCOMM has a 12-month low of $83.10 and a 12-month high of $167.94.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 24th. Shareholders of record on Thursday, June 3rd will be given a $0.68 dividend. The ex-dividend date of this dividend is Wednesday, June 2nd. This is a boost from QUALCOMM’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a yield of 2.03%. QUALCOMM’s payout ratio is 81.44%.
In other QUALCOMM news, CAO Erin L. Polek sold 1,835 shares of the business’s stock in a transaction dated Friday, May 21st. The shares were sold at an average price of $132.00, for a total value of $242,220.00. Also, EVP Brian Modoff sold 1,510 shares of the business’s stock in a transaction dated Friday, May 14th. The stock was sold at an average price of $129.32, for a total transaction of $195,273.20. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of QCOM. Wealthcare Capital Management LLC acquired a new stake in QUALCOMM during the 1st quarter worth about $26,000. GeoWealth Management LLC raised its holdings in QUALCOMM by 308.0% during the 1st quarter. GeoWealth Management LLC now owns 204 shares of the wireless technology company’s stock worth $27,000 after buying an additional 154 shares during the period. Capital Directions Investment Advisors LLC raised its holdings in QUALCOMM by 100.0% during the 4th quarter. Capital Directions Investment Advisors LLC now owns 200 shares of the wireless technology company’s stock worth $30,000 after buying an additional 100 shares during the period. RMR Wealth Builders acquired a new stake in QUALCOMM during the 4th quarter worth about $30,000. Finally, Valley Brook Capital Group acquired a new stake in QUALCOMM during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 72.53% of the company’s stock.
QUALCOMM Company Profile
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).
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