QUALCOMM (NASDAQ:QCOM) Trading Up 1%

QUALCOMM Incorporated (NASDAQ:QCOM) shares traded up 1% during mid-day trading on Monday . The company traded as high as $182.40 and last traded at $181.41. 1,559,565 shares changed hands during trading, a decline of 82% from the average session volume of 8,671,343 shares. The stock had previously closed at $179.64.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Piper Sandler upped their target price on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. TD Cowen boosted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Susquehanna raised their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. HSBC upped their price target on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, Evercore ISI assumed coverage on QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.48.

QUALCOMM Price Performance

The stock has a market cap of $201.49 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 2.27 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The stock’s 50 day simple moving average is $168.62 and its two-hundred day simple moving average is $148.09.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s payout ratio is 45.70%.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the transaction, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the sale, the chief technology officer now directly owns 253,893 shares of the company’s stock, valued at $46,208,526. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold 46,316 shares of company stock valued at $7,796,128 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Peoples Bank OH acquired a new stake in shares of QUALCOMM during the fourth quarter worth $219,000. HF Advisory Group LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at approximately $629,000. Bank Hapoalim BM boosted its stake in QUALCOMM by 35.0% during the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after acquiring an additional 9,192 shares during the last quarter. NewEdge Wealth LLC grew its holdings in QUALCOMM by 120.2% during the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after purchasing an additional 11,285 shares during the period. Finally, 1834 Investment Advisors Co. increased its stake in QUALCOMM by 6.6% in the fourth quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock valued at $6,591,000 after purchasing an additional 2,818 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

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.