QUALCOMM Incorporated (NASDAQ:QCOM) Announces Quarterly Dividend of $0.85

QUALCOMM Incorporated (NASDAQ:QCOM) announced a quarterly dividend on Monday, October 7th,RTT News reports. Shareholders of record on Thursday, December 5th will be given a dividend of 0.85 per share by the wireless technology company on Thursday, December 19th. This represents a $3.40 annualized dividend and a yield of 2.09%. The ex-dividend date is Thursday, December 5th.

QUALCOMM has increased its dividend by an average of 7.0% per year over the last three years and has increased its dividend every year for the last 22 years. QUALCOMM has a dividend payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect QUALCOMM to earn $10.37 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 32.8%.

QUALCOMM Price Performance

QCOM stock opened at $163.03 on Tuesday. The company’s 50-day moving average price is $166.64 and its two-hundred day moving average price is $180.58. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM has a 12 month low of $128.03 and a 12 month high of $230.63. The firm has a market cap of $181.13 billion, a P/E ratio of 18.13, a P/E/G ratio of 2.67 and a beta of 1.25.

Insider Buying and Selling

In other news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,450 shares of company stock worth $2,911,306 in the last ninety days. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on QCOM shares. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Citigroup cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Loop Capital initiated coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 target price on the stock. Wells Fargo & Company raised their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Finally, Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.15.

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.