QUALCOMM (NASDAQ:QCOM) Shares Up 2.7%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price rose 2.7% during mid-day trading on Friday . The company traded as high as $203.94 and last traded at $200.37. Approximately 4,097,043 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 9,278,711 shares. The stock had previously closed at $195.15.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of recent analyst reports. HSBC boosted their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. KeyCorp boosted their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Susquehanna boosted their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Finally, Mizuho boosted their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $192.13.

QUALCOMM Stock Up 2.2 %

The business has a fifty day moving average of $194.32 and a 200 day moving average of $168.60. The stock has a market cap of $222.69 billion, a price-to-earnings ratio of 26.91, a P/E/G ratio of 2.40 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98.

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

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were issued 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 yield of 1.70%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Buying and Selling

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was 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 in the company, valued at $9,623.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now owns 5,902 shares in the company, valued at $1,185,947.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,185 shares of company stock worth $8,206,875. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Several hedge funds have recently modified their holdings of QCOM. Algert Global LLC bought a new stake in shares of QUALCOMM in the third quarter valued at approximately $545,000. Rehmann Capital Advisory Group boosted its position in shares of QUALCOMM by 3.6% in the third quarter. Rehmann Capital Advisory Group now owns 10,312 shares of the wireless technology company’s stock valued at $1,145,000 after acquiring an additional 361 shares during the period. United Services Automobile Association boosted its position in shares of QUALCOMM by 2.2% in the third quarter. United Services Automobile Association now owns 171,656 shares of the wireless technology company’s stock valued at $19,064,000 after acquiring an additional 3,668 shares during the period. First Business Financial Services Inc. boosted its position in shares of QUALCOMM by 1.3% in the third quarter. First Business Financial Services Inc. now owns 9,052 shares of the wireless technology company’s stock valued at $1,005,000 after acquiring an additional 114 shares during the period. Finally, Per Stirling Capital Management LLC. boosted its position in shares of QUALCOMM by 2.8% in the third quarter. Per Stirling Capital Management LLC. now owns 5,651 shares of the wireless technology company’s stock valued at $628,000 after acquiring an additional 155 shares during the period. 74.35% of the stock is 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.