QUALCOMM (NASDAQ:QCOM) Trading 0.2% Higher

QUALCOMM Incorporated (NASDAQ:QCOM) shot up 0.2% during trading on Thursday . The company traded as high as $181.71 and last traded at $180.96. 964,357 shares were traded during trading, a decline of 89% from the average session volume of 8,612,431 shares. The stock had previously closed at $180.55.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price objective on shares of QUALCOMM in a research note on Thursday, May 2nd. Citigroup boosted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Evercore ISI began coverage on QUALCOMM in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price target for the company. TD Cowen raised their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, Bank of America raised their price objective on shares of QUALCOMM from $173.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $180.48.

QUALCOMM Trading Down 0.0 %

The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The firm has a market cap of $201.48 billion, a P/E ratio of 24.27, a PEG ratio of 2.27 and a beta of 1.33. The firm’s fifty day moving average is $169.12 and its two-hundred day moving average is $148.31.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.88%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The stock was 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 owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’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 completion of the sale, 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 document filed with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,316 shares of company stock valued at $7,796,128. Corporate insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the 1st quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. raised its stake in 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 last quarter. Richardson Capital Management LLC purchased a new position in shares of QUALCOMM in the 1st quarter worth $37,000. DiNuzzo Private Wealth Inc. purchased a new stake in QUALCOMM during the fourth quarter valued at $32,000. Finally, Cherry Tree Wealth Management LLC boosted its position in QUALCOMM by 95.0% in the fourth 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 last quarter. 74.35% of the stock is owned by institutional investors.

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.