QUALCOMM Incorporated (NASDAQ:QCOM) Declares Dividend Increase – $0.85 Per Share

QUALCOMM Incorporated (NASDAQ:QCOM) declared a quarterly dividend on Wednesday, April 17th, RTT News reports. Investors of record on Thursday, May 30th will be given a dividend of 0.85 per share by the wireless technology company on Thursday, June 20th. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80.

QUALCOMM has raised its dividend by an average of 7.0% annually over the last three years and has increased its dividend annually for the last 21 consecutive years. QUALCOMM has a dividend payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect QUALCOMM to earn $8.51 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 37.6%.

QUALCOMM Stock Down 2.5 %

QCOM stock opened at $164.32 on Thursday. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The company has a market cap of $183.38 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 2.30 and a beta of 1.41. The business has a 50-day simple moving average of $164.47 and a 200 day simple moving average of $142.20. QUALCOMM has a 52 week low of $101.47 and a 52 week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate 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 net margin of 21.39% and a return on equity of 38.06%. Sell-side analysts anticipate that QUALCOMM will post 7.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent analyst reports. Rosenblatt Securities upped their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Cantor Fitzgerald raised their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Evercore ISI began coverage on shares of QUALCOMM in a research report on Tuesday. They set an “in-line” rating and a $177.00 price objective for the company. StockNews.com downgraded shares of 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 shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.90.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The shares were 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 $12,030,317.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,360 shares of company stock valued at $7,184,678. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Large investors have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $79,000. Live Oak Investment Partners bought a new position in QUALCOMM during the fourth quarter worth $75,000. KB Financial Partners LLC bought a new position in QUALCOMM during the first quarter worth $71,000. Hobbs Group Advisors LLC acquired a new stake in QUALCOMM in the fourth quarter worth $67,000. Finally, Pin Oak Investment Advisors Inc. increased its stake in QUALCOMM by 23.1% in the second quarter. Pin Oak Investment Advisors Inc. now owns 539 shares of the wireless technology company’s stock valued at $64,000 after purchasing an additional 101 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.