QUALCOMM (NASDAQ:QCOM) Given New $140.00 Price Target at Wells Fargo & Company

QUALCOMM (NASDAQ:QCOM) had its target price upped by Wells Fargo & Company from $120.00 to $140.00 in a research report report published on Thursday, Benzinga reports. They currently have an underweight rating on the wireless technology company’s stock.

A number of other research analysts also recently commented on QCOM. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an overweight rating for the company in a research note on Thursday, February 1st. Cantor Fitzgerald lifted their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the company a neutral rating in a report on Monday, April 8th. Piper Sandler boosted their price objective 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. Rosenblatt Securities lifted their target price on QUALCOMM from $160.00 to $170.00 and gave the company a buy rating in a report on Thursday, February 1st. Finally, Robert W. Baird boosted their price target on QUALCOMM from $160.00 to $200.00 and gave the company an outperform rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of Moderate Buy and a consensus target price of $179.36.

QUALCOMM Price Performance

QCOM stock opened at $179.64 on Thursday. The stock has a market capitalization of $200.48 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33. The company has a quick ratio of 1.98, 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’s fifty day simple moving average is $167.69 and its 200-day simple moving average is $147.08.

QUALCOMM Increases Dividend

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

Insider Activity

In other news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the transaction, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at $3,875,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 371 shares of the company’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 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 a total of 44,260 shares of company stock valued at $7,429,728 over the last three months. Insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Institutional investors and hedge funds have recently modified their holdings of the business. Financial Gravity Asset Management Inc. increased its holdings in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the period. WFA Asset Management Corp acquired a new position in QUALCOMM in the first quarter valued at approximately $27,000. Legacy Financial Group LLC bought a new position in shares of QUALCOMM during the 3rd quarter worth approximately $29,000. CarsonAllaria Wealth Management Ltd. grew its position in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after buying an additional 157 shares during the period. Finally, DiNuzzo Private Wealth Inc. bought a new stake in shares of QUALCOMM in the 4th quarter valued at $32,000. 74.35% of the stock is currently owned by institutional investors.

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.