QUALCOMM (NASDAQ:QCOM) Shares Up 1%

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) were up 1% during trading on Wednesday . The stock traded as high as $202.68 and last traded at $202.23. Approximately 1,326,181 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 9,256,998 shares. The stock had previously closed at $200.16.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of analyst reports. Barclays lifted their price objective on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Wells Fargo & Company lifted their price target on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. Argus increased their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Morgan Stanley boosted their target price on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Benchmark reiterated a “buy” rating and issued a $200.00 price objective on shares of QUALCOMM in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $192.13.

QUALCOMM Stock Performance

The company’s fifty day moving average price is $198.20 and its two-hundred day moving average price is $170.71. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The firm has a market capitalization of $227.45 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 2.48 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. As a group, equities analysts expect that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.67%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is presently 45.70%.

Insider Buying and Selling at QUALCOMM

In other news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Neil Smit sold 3,069 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the transaction, the director now owns 5,902 shares in the company, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. Insiders have sold a total of 42,185 shares of company stock valued at $7,936,005 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the first quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in shares of QUALCOMM during the first quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of QUALCOMM in the fourth quarter worth $32,000. Finally, Cherry Tree Wealth Management LLC boosted its stake in QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares during the last quarter. Hedge funds and other institutional investors 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.