QUALCOMM (NASDAQ:QCOM) Trading Up 1.3%

QUALCOMM Incorporated (NASDAQ:QCOM) shot up 1.3% on Friday . The stock traded as high as $165.85 and last traded at $165.49. 1,405,367 shares were traded during mid-day trading, a decline of 83% from the average session volume of 8,449,772 shares. The stock had previously closed at $163.30.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on QCOM shares. Cantor Fitzgerald boosted their price target on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. TD Cowen boosted their price objective on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Evercore ISI started coverage on QUALCOMM in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price for the company. Piper Sandler boosted their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Finally, Mizuho raised their price objective on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $158.86.

QUALCOMM Trading Up 1.4 %

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 has a market cap of $184.88 billion, a price-to-earnings ratio of 24.01, a P/E/G ratio of 2.24 and a beta of 1.41. The company’s 50-day moving average is $165.84 and its 200-day moving average is $144.70.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion for 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%. On average, research analysts predict that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.05%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is presently 46.38%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 371 shares of the 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 transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock worth $5,973,728 over the last 90 days. Insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Hedge funds have recently modified their holdings of the company. Peoples Bank OH bought a new position in shares of QUALCOMM during the fourth quarter worth $219,000. HF Advisory Group LLC acquired a new position in QUALCOMM in the third quarter valued at about $629,000. Bank Hapoalim BM increased its holdings in shares of QUALCOMM by 35.0% in the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after acquiring an additional 9,192 shares in the last quarter. NewEdge Wealth LLC raised its position in shares of QUALCOMM by 120.2% during the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after purchasing an additional 11,285 shares during the period. Finally, Stratos Wealth Advisors LLC lifted its holdings in shares of QUALCOMM by 24.2% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 39,460 shares of the wireless technology company’s stock valued at $4,382,000 after purchasing an additional 7,682 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.