Morgan Stanley Boosts QUALCOMM (NASDAQ:QCOM) Price Target to $172.00

QUALCOMM (NASDAQ:QCOM) had its price objective upped by Morgan Stanley from $158.00 to $172.00 in a report issued on Thursday morning, Benzinga reports. They currently have an equal weight rating on the wireless technology company’s stock.

QCOM has been the subject of several other research reports. Rosenblatt Securities lifted their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a buy rating in a research note on Thursday, February 1st. Piper Sandler boosted their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the company an overweight rating in a research note on Thursday, February 1st. Benchmark assumed coverage on shares of QUALCOMM in a research note on Tuesday, April 23rd. They issued a buy rating and a $200.00 target price for the company. Canaccord Genuity Group boosted their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the company a buy rating in a research note on Friday, January 19th. Finally, Cantor Fitzgerald boosted their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the company a neutral rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $179.36.

QUALCOMM Trading Down 0.3 %

NASDAQ:QCOM opened at $179.64 on Thursday. The company has a market capitalization of $200.48 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 2.46 and a beta of 1.33. The company has a quick ratio of 1.88, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM has a 52-week low of $101.47 and a 52-week high of $183.19. The stock has a fifty day simple moving average of $167.69 and a 200-day simple moving average of $147.08.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is presently 43.01%.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’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 value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the transaction, the chief technology officer now owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,260 shares of company stock worth $7,429,728. 0.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently bought and sold shares of QCOM. Norges Bank purchased a new position in shares of QUALCOMM during the 4th quarter valued at approximately $2,507,978,000. International Assets Investment Management LLC boosted its stake in shares of QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after buying an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of QUALCOMM by 1,543.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after buying an additional 2,659,323 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of QUALCOMM by 53.6% during the 3rd quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock valued at $586,760,000 after buying an additional 1,842,868 shares during the last quarter. 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.