QUALCOMM (NASDAQ:QCOM) Stock Price Up 0.6%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price traded up 0.6% 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

QCOM has been the subject of several analyst reports. KeyCorp increased their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Piper Sandler lifted their price target on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Cantor Fitzgerald raised their target price on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Benchmark started coverage on shares of QUALCOMM in a research report on Tuesday. They set a “buy” rating and a $200.00 price target for the company. Finally, Rosenblatt Securities lifted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $158.86.

QUALCOMM Price Performance

The stock has a market capitalization of $182.61 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 2.21 and a beta of 1.41. The business’s 50-day moving average price is $165.43 and its 200 day moving average price is $143.97. 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 released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Research analysts forecast that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.08%. QUALCOMM’s payout ratio is 46.38%.

Insider Buying and Selling

In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly 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 can be accessed through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the sale, the chief technology officer now directly owns 269,893 shares in the company, valued at $43,018,245.27. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,260 shares of company stock worth $5,973,728. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Several institutional investors have recently added to or reduced their stakes in the business. Grandview Asset Management LLC boosted its position in QUALCOMM by 2.3% during the first quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after buying an additional 62 shares during the period. Tealwood Asset Management Inc. raised its stake in shares of QUALCOMM by 0.6% during the first quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock valued at $1,676,000 after acquiring an additional 63 shares during the last quarter. VERITY Wealth Advisors raised its stake in shares of QUALCOMM by 0.8% during the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock valued at $1,320,000 after acquiring an additional 64 shares during the last quarter. Cassaday & Co Wealth Management LLC raised its stake in shares of QUALCOMM by 1.2% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock valued at $831,000 after acquiring an additional 66 shares during the last quarter. Finally, Transform Wealth LLC raised its stake in shares of QUALCOMM by 2.3% during the first quarter. Transform Wealth LLC now owns 2,916 shares of the wireless technology company’s stock valued at $494,000 after acquiring an additional 66 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

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.