QUALCOMM (NASDAQ:QCOM) Given New $175.00 Price Target at UBS Group

QUALCOMM (NASDAQ:QCOM) had its target price raised by UBS Group from $165.00 to $175.00 in a report issued on Thursday morning, Benzinga reports. UBS Group currently has a neutral rating on the wireless technology company’s stock.

A number of other research analysts have also issued reports on QCOM. HSBC increased their target price on QUALCOMM from $170.00 to $190.00 and gave the company a buy rating in a research report on Tuesday, April 30th. Cantor Fitzgerald raised their price target on QUALCOMM from $150.00 to $190.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Canaccord Genuity Group increased their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the company a buy rating in a research report on Friday, January 19th. Rosenblatt Securities boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the company a buy rating in a report on Thursday, February 1st. Finally, Bank of America raised their price target on QUALCOMM from $173.00 to $180.00 and gave the stock a buy rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $179.36.

QUALCOMM Stock Performance

NASDAQ:QCOM traded down $0.46 during mid-day trading on Thursday, hitting $179.64. 10,043,912 shares of the company traded hands, compared to its average volume of 8,171,053. The stock’s fifty day moving average price is $167.69 and its 200-day moving average price is $146.59. The company has a quick ratio of 1.88, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM has a one year low of $101.47 and a one year high of $183.19. The firm has a market cap of $200.48 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 2.46 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. Research analysts anticipate that QUALCOMM will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.89%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is currently 43.01%.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the sale, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was 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 in the company, valued at $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the sale, the chief technology officer now directly owns 253,893 shares of the company’s stock, valued at $46,208,526. The disclosure for this sale can be found here. Insiders sold 44,260 shares of company stock worth $7,429,728 in the last three months. Corporate insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of QCOM. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM in the first quarter worth approximately $27,000. CarsonAllaria Wealth Management Ltd. increased its stake in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after acquiring an additional 157 shares during the last quarter. Richardson Capital Management LLC purchased a new position in shares of QUALCOMM during the 1st quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of QUALCOMM during the fourth quarter worth $32,000. Finally, Cherry Tree Wealth Management LLC boosted its holdings in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 115 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Company Profile

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.