QUALCOMM, Inc. (NASDAQ:QCOM) declared a quarterly dividend on Tuesday, October 15th, RTT News reports. Stockholders of record on Thursday, December 5th will be paid a dividend of 0.62 per share by the wireless technology company on Thursday, December 19th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Wednesday, December 4th.
QUALCOMM has increased its dividend payment by an average of 9.3% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. QUALCOMM has a payout ratio of 79.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect QUALCOMM to earn $3.29 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 75.4%.
Shares of QCOM stock opened at $78.23 on Thursday. QUALCOMM has a 12 month low of $49.10 and a 12 month high of $90.34. The firm has a market cap of $92.75 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 1.82 and a beta of 1.59. The stock has a 50 day moving average of $77.04 and a 200-day moving average of $74.17. The company has a quick ratio of 1.61, a current ratio of 1.77 and a debt-to-equity ratio of 2.46.
In other news, Director Mark D. Mclaughlin purchased 2,705 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were acquired at an average price of $73.84 per share, for a total transaction of $199,737.20. Following the completion of the acquisition, the director now directly owns 5,220 shares in the company, valued at $385,444.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Erin L. Polek sold 1,478 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $70.36, for a total value of $103,992.08. Following the completion of the transaction, the senior vice president now owns 1,386 shares in the company, valued at approximately $97,518.96. The disclosure for this sale can be found here. Insiders have sold 11,985 shares of company stock worth $892,245 in the last 90 days. Company insiders own 0.11% of the company’s stock.
A number of research analysts recently commented on QCOM shares. Canaccord Genuity set a $87.00 target price on QUALCOMM and gave the company a “buy” rating in a research note on Wednesday, October 9th. Deutsche Bank cut their target price on QUALCOMM from $80.00 to $75.00 and set an “in-line” rating for the company in a research note on Thursday, August 1st. Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 target price on shares of QUALCOMM in a research note on Monday, July 22nd. TheStreet upgraded QUALCOMM from a “c+” rating to a “b-” rating in a research note on Thursday, August 1st. Finally, ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $79.68.
QUALCOMM Company Profile
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
Featured Article: Cost of Goods Sold (COGS)
Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.