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. Stockholders 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 annualized dividend and a dividend yield of 2.07%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80.

QUALCOMM has increased its dividend by an average of 7.0% per year over the last three years and has raised its dividend annually for the last 21 consecutive years. QUALCOMM has a payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. 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 Performance

NASDAQ:QCOM opened at $164.32 on Thursday. 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 has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The firm 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 moving average price of $164.47 and a 200-day moving average price of $142.20.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Equities research analysts predict that QUALCOMM will post 7.69 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following 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 legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Insiders have sold 44,360 shares of company stock worth $7,184,678 in the last 90 days. Insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Institutional investors and hedge funds have recently modified their holdings of the business. Milestone Investment Advisors LLC bought a new position in shares of QUALCOMM during the first quarter valued at $26,000. O Dell Group LLC purchased a new position in QUALCOMM in the 4th quarter worth about $28,000. Pacific Center for Financial Services purchased a new position in QUALCOMM in the 1st quarter worth about $31,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of QUALCOMM during the 1st quarter valued at about $32,000. Finally, Coppell Advisory Solutions Corp. purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $45,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on QCOM. Barclays raised their target price on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Evercore ISI started coverage on QUALCOMM in a research report on Tuesday. They issued an “in-line” rating and a $177.00 price objective on the stock. Piper Sandler upped their target price on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Rosenblatt Securities lifted their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $156.90.

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.