QUALCOMM (NASDAQ:QCOM) Trading Up 2.4%

QUALCOMM Incorporated (NASDAQ:QCOMGet Free Report) shares were up 2.4% during trading on Wednesday . The stock traded as high as $194.12 and last traded at $193.44. Approximately 2,943,572 shares changed hands during trading, a decline of 65% from the average daily volume of 8,519,584 shares. The stock had previously closed at $188.97.

Analyst Ratings Changes

Several research analysts have commented on QCOM shares. Barclays boosted their price objective on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. HSBC upped their price target on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Wolfe Research upped their price target on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. KeyCorp upped their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Argus upped their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $180.48.

Check Out Our Latest Report on QCOM

QUALCOMM Stock Up 3.0 %

The company has a market cap of $217.18 billion, a P/E ratio of 26.03, a PEG ratio of 2.28 and a beta of 1.33. The stock’s 50-day moving average price is $170.86 and its 200-day moving average price is $150.77. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59.

QUALCOMM Increases Dividend

The business also recently disclosed 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. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is 43.01%.

Insider Transactions at QUALCOMM

In other news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following 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 58,160 shares of company stock valued at $9,939,349 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of QUALCOMM by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after acquiring an additional 483,390 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares during the last quarter. Morgan Stanley increased its stake in QUALCOMM by 2.2% in the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after buying an additional 438,660 shares during the last quarter. Norges Bank purchased a new stake in QUALCOMM in the 4th quarter valued at about $2,507,978,000. Finally, Northern Trust Corp increased its stake in QUALCOMM by 3.5% in the 3rd quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock valued at $1,365,092,000 after buying an additional 415,398 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

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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