Cantor Fitzgerald reiterated their neutral rating on shares of QUALCOMM (NASDAQ:QCOM – Free Report) in a research note published on Wednesday,Benzinga reports. The firm currently has a $160.00 target price on the wireless technology company’s stock.
QCOM has been the subject of several other reports. Susquehanna lowered their target price on QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a report on Monday, October 21st. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Citigroup lowered their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Finally, Robert W. Baird upped their target price on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $210.15.
Read Our Latest Stock Analysis on QCOM
QUALCOMM Trading Down 6.3 %
QUALCOMM Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.20%. QUALCOMM’s payout ratio is currently 37.82%.
Insider Activity
In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock worth $2,709,186 over the last quarter. Corporate insiders own 0.08% of the company’s stock.
Hedge Funds Weigh In On QUALCOMM
Hedge funds have recently modified their holdings of the stock. HWG Holdings LP acquired a new position in shares of QUALCOMM in the second quarter worth $30,000. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM in the third quarter worth $26,000. Financial Connections Group Inc. acquired a new stake in QUALCOMM during the second quarter worth about $32,000. Aspect Partners LLC grew its position in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares in the last quarter. Finally, Planning Capital Management Corp grew its position in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.
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.
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