QUALCOMM (NASDAQ:QCOM) Stock Price Up 0.6%

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded up 0.6% on Tuesday . The company traded as high as $162.26 and last traded at $161.13. 1,495,060 shares were traded during mid-day trading, a decline of 82% from the average session volume of 8,532,522 shares. The stock had previously closed at $160.18.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of 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 objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. TD Cowen lifted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Benchmark began coverage on shares of QUALCOMM in a report on Tuesday. They set a “buy” rating and a $200.00 price target for the company. Finally, Cantor Fitzgerald boosted their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. One investment 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.86.

QUALCOMM Stock Up 1.4 %

The firm has a market cap of $182.61 billion, a PE ratio of 23.71, a P/E/G ratio of 2.21 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The firm’s 50-day moving average price is $165.43 and its two-hundred day moving average price is $143.97.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. As a group, equities research analysts expect that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared 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. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 2.08%. QUALCOMM’s dividend payout ratio is 46.38%.

Insider Activity at QUALCOMM

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 sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other QUALCOMM 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock worth $5,973,728 in the last 90 days. 0.08% of the stock is owned by insiders.

Hedge Funds Weigh In On QUALCOMM

Large investors have recently bought and sold shares of the company. WFA Asset Management Corp purchased a new position in QUALCOMM during the 1st quarter worth $27,000. CarsonAllaria Wealth Management Ltd. grew 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 worth $30,000 after purchasing an additional 157 shares during the period. Richardson Capital Management LLC acquired a new position in shares of QUALCOMM during the 1st quarter worth $37,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of QUALCOMM during the 4th quarter worth $32,000. Finally, Cherry Tree Wealth Management LLC grew its stake in shares of QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares during the period. Hedge funds and other institutional investors 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.