QUALCOMM (NASDAQ:QCOM) Earns “Neutral” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their neutral rating on shares of QUALCOMM (NASDAQ:QCOM) in a research report released on Wednesday morning,Benzinga reports. They currently have a $160.00 price target on the wireless technology company’s stock.

Several other equities research analysts have also recently weighed in on QCOM. Evercore ISI raised their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Sanford C. Bernstein raised their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. UBS Group lifted their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM Stock Performance

QUALCOMM stock opened at $156.79 on Wednesday. QUALCOMM has a 52-week low of $125.67 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The stock has a fifty day moving average price of $167.82 and a two-hundred day moving average price of $181.58. The firm has a market capitalization of $174.19 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.61 and a beta of 1.28.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th 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 2.17%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 5.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,450 shares of company stock worth $2,911,306. 0.08% of the stock is owned by company insiders.

Institutional Trading of QUALCOMM

A number of institutional investors have recently modified their holdings of QCOM. Matrix Capital Management Company LP acquired a new stake in QUALCOMM in the 1st quarter valued at approximately $1,171,516,000. Massachusetts Financial Services Co. MA raised its holdings in shares of QUALCOMM by 1,778.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after purchasing an additional 3,047,947 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of QUALCOMM by 1,702.6% in the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after purchasing an additional 3,014,302 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in QUALCOMM by 17,357.3% during the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after purchasing an additional 2,919,490 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Company Profile

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.