Deutsche Bank AG assumed coverage on shares of QUALCOMM Incorporated (NASDAQ:QCOM) in a research note published on Monday, Marketbeat reports. The firm issued a hold rating and a $62.00 target price on the wireless technology company’s stock.
Several other equities research analysts also recently commented on QCOM. Susquehanna Bancshares Inc reaffirmed a positive rating and set a $67.00 target price (up from $61.00) on shares of QUALCOMM in a report on Sunday. BMO Capital Markets reaffirmed a market perform rating on shares of QUALCOMM in a report on Sunday, May 21st. Vetr downgraded QUALCOMM from a buy rating to a hold rating and set a $58.62 target price for the company. in a report on Tuesday, May 30th. Citigroup Inc. reaffirmed a neutral rating and set a $60.00 target price (down from $70.00) on shares of QUALCOMM in a report on Thursday, February 23rd. Finally, Oppenheimer Holdings, Inc. reaffirmed a market perform rating on shares of QUALCOMM in a report on Monday, April 24th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and an average price target of $64.53.
QUALCOMM (NASDAQ:QCOM) traded down 1.08% during mid-day trading on Monday, reaching $56.99. The company had a trading volume of 2,035,602 shares. The firm has a market capitalization of $84.20 billion, a P/E ratio of 18.99 and a beta of 1.25. The stock’s 50-day moving average is $56.71 and its 200 day moving average is $58.50. QUALCOMM has a 12 month low of $50.84 and a 12 month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 19th. The wireless technology company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.05 by $0.29. QUALCOMM had a return on equity of 21.32% and a net margin of 19.25%. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.86 billion. During the same period in the prior year, the business posted $1.04 earnings per share. QUALCOMM’s revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that QUALCOMM will post $4.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Wednesday, May 31st will be given a $0.57 dividend. The ex-dividend date is Friday, May 26th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.96%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.53. QUALCOMM’s dividend payout ratio (DPR) is currently 76.00%.
In other QUALCOMM news, EVP Alexander H. Rogers sold 470 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total value of $26,921.60. Following the completion of the sale, the executive vice president now owns 3,049 shares in the company, valued at approximately $174,646.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Derek K. Aberle sold 22,251 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $57.59, for a total value of $1,281,435.09. Following the completion of the sale, the president now owns 28,959 shares of the company’s stock, valued at approximately $1,667,748.81. The disclosure for this sale can be found here. Insiders sold a total of 63,931 shares of company stock valued at $3,536,013 in the last quarter. Corporate insiders own 0.24% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Massey Quick & Co. LLC bought a new position in QUALCOMM during the fourth quarter valued at approximately $105,000. Jacobi Capital Management LLC increased its position in QUALCOMM by 10.8% in the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after buying an additional 250 shares during the period. FNY Managed Accounts LLC bought a new position in QUALCOMM during the first quarter valued at approximately $157,000. American National Bank increased its position in QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock valued at $162,000 after buying an additional 822 shares during the period. Finally, Welch Group LLC increased its position in QUALCOMM by 2.3% in the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock valued at $174,000 after buying an additional 69 shares during the period. Institutional investors and hedge funds own 77.99% of the company’s stock.
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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