QUALCOMM (NASDAQ:QCOM) Reaches New 12-Month High at $229.24

QUALCOMM Incorporated (NASDAQ:QCOMGet Free Report)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $229.24 and last traded at $227.52, with a volume of 1691224 shares traded. The stock had previously closed at $222.22.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Citigroup boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Robert W. Baird boosted their price objective on QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Mizuho boosted their price objective on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Argus boosted their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, Canaccord Genuity Group boosted their price objective on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $188.74.

Read Our Latest Research Report on QCOM

QUALCOMM Stock Performance

The firm has a fifty day moving average price of $188.58 and a 200 day moving average price of $164.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The stock has a market cap of $255.16 billion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 2.62 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOMGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Research analysts forecast that QUALCOMM Incorporated will post 7.83 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Insider Activity

In other news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the sale, the chief accounting officer now directly owns 358 shares in the company, valued at approximately $70,207.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the sale, the director now directly owns 5,902 shares in the company, valued at approximately $1,185,947.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 1,116 shares of QUALCOMM stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock worth $8,206,875 in the last ninety days. Company insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of QCOM. Financial Gravity Asset Management Inc. lifted its stake in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the 1st quarter valued at approximately $27,000. CarsonAllaria Wealth Management Ltd. raised its position 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 valued at $30,000 after buying an additional 157 shares during the period. DiNuzzo Private Wealth Inc. purchased a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $32,000. Finally, Cherry Tree Wealth Management LLC raised its position 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 valued at $34,000 after buying an additional 115 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

About QUALCOMM

(Get Free Report)

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.

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