QUALCOMM Incorporated (QCOM) To Go Ex-Dividend on March 6th

QUALCOMM Incorporated (NASDAQ:QCOM) declared a quarterly dividend on Friday, January 10th, RTT News reports. Shareholders of record on Thursday, March 6th will be given a dividend of 0.85 per share by the wireless technology company on Thursday, March 27th. This represents a $3.40 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, March 6th.

QUALCOMM has raised its dividend by an average of 7.2% per year over the last three years and has increased its dividend every year for the last 22 years. QUALCOMM has a payout ratio of 27.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect QUALCOMM to earn $9.86 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 34.5%.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $153.62 on Tuesday. QUALCOMM has a 52 week low of $149.43 and a 52 week high of $230.63. The business’s fifty day simple moving average is $164.84 and its 200-day simple moving average is $165.47. The firm has a market cap of $169.90 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Equities analysts forecast that QUALCOMM will post 9.39 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Benchmark reaffirmed a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Piper Sandler cut their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. UBS Group boosted their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Sanford C. Bernstein boosted their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Evercore ISI cut their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $205.32.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now owns 59,778 shares in the company, valued at $9,374,385.96. This trade represents a 5.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,045 shares of company stock valued at $8,237,043. Corporate insiders own 0.08% of the company’s stock.

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.