QUALCOMM (NASDAQ:QCOM) Stock Price Up 1.8%

QUALCOMM Incorporated (NASDAQ:QCOM) traded up 1.8% during mid-day trading on Thursday . The company traded as high as $204.86 and last traded at $203.81. Approximately 4,996,211 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 10,966,074 shares. The stock had previously closed at $200.16.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on QCOM shares. Tigress Financial boosted their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Barclays upped their price target on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Piper Sandler lifted their price objective on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. Finally, KeyCorp lifted their price target on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $192.13.

QUALCOMM Stock Up 1.0 %

The firm has a 50-day moving average price of $199.81 and a two-hundred day moving average price of $171.39. The company has a market capitalization of $229.62 billion, a P/E ratio of 27.65, a PEG ratio of 2.48 and a beta of 1.27. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. Equities research analysts anticipate that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were given a $0.85 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.65%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Insider Activity

In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the transaction, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at $1,466,100. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the firm’s 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 completion of the transaction, the director now owns 54 shares in the company, valued at $9,623.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the transaction, the chief executive officer now owns 8,100 shares of the company’s stock, valued at approximately $1,466,100. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,185 shares of company stock worth $7,936,005. Company insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of QCOM. Journey Advisory Group LLC raised its position in QUALCOMM by 21.1% in the 3rd quarter. Journey Advisory Group LLC now owns 2,878 shares of the wireless technology company’s stock worth $320,000 after purchasing an additional 501 shares during the last quarter. Horizon Family Wealth Inc. bought a new position in QUALCOMM in the third quarter valued at about $335,000. BRYN MAWR TRUST Co increased its position in QUALCOMM by 1.6% in the third quarter. BRYN MAWR TRUST Co now owns 7,529 shares of the wireless technology company’s stock worth $836,000 after purchasing an additional 119 shares during the period. Financial Gravity Asset Management Inc. raised its holdings in QUALCOMM by 102.5% during 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 during the last quarter. Finally, Integrated Advisors Network LLC lifted its position in QUALCOMM by 13.4% during the 3rd quarter. Integrated Advisors Network LLC now owns 19,799 shares of the wireless technology company’s stock valued at $2,199,000 after purchasing an additional 2,343 shares during the period. 74.35% of the stock is 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.