QUALCOMM (NASDAQ:QCOM) Trading Up 1.9% Following Dividend Announcement

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price rose 1.9% during mid-day trading on Monday after the company announced a dividend. The company traded as high as $165.61 and last traded at $164.56. Approximately 8,063,912 shares changed hands during trading, an increase of 24% from the average daily volume of 6,526,932 shares. The stock had previously closed at $161.43.

The newly announced dividend which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.03%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 37.82%.

Analyst Ratings Changes

QCOM has been the topic of several recent analyst reports. Barclays reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Susquehanna dropped their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Sanford C. Bernstein increased their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Wednesday, November 20th. Finally, Wells Fargo & Company increased their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Trading Up 1.6 %

The company’s fifty day moving average is $158.78 and its two-hundred day moving average is $168.29. The stock has a market cap of $185.84 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.75 and a beta of 1.25. 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 (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. On average, research analysts predict that QUALCOMM Incorporated will post 9.12 EPS for the current fiscal year.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction on 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 owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM 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 transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,882 shares of company stock worth $4,314,649. Insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM during the 3rd quarter worth about $26,000. HWG Holdings LP acquired a new position in shares of QUALCOMM in the 2nd quarter valued at approximately $30,000. Planning Capital Management Corp raised its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM during the 3rd quarter valued at approximately $36,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors 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.