QUALCOMM (NASDAQ:QCOM) Price Target Raised to $180.00

QUALCOMM (NASDAQ:QCOM) had its price target raised by Bank of America from $173.00 to $180.00 in a report issued on Thursday, Benzinga reports. The firm currently has a buy rating on the wireless technology company’s stock.

A number of other equities research analysts have also weighed in on QCOM. HSBC raised their price objective on shares of QUALCOMM from $170.00 to $190.00 and gave the company a buy rating in a report on Tuesday, April 30th. Susquehanna upped their price objective on QUALCOMM from $175.00 to $205.00 and gave the stock a positive rating in a research report on Wednesday, April 10th. Cantor Fitzgerald raised their target price on QUALCOMM from $150.00 to $190.00 and gave the stock a neutral rating in a research report on Monday, April 8th. KeyCorp upped their price target on QUALCOMM from $180.00 to $205.00 and gave the company an overweight rating in a report on Monday, April 8th. Finally, Morgan Stanley raised their price objective on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an equal weight rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $179.36.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $179.64 on Thursday. The business has a 50-day simple moving average of $167.69 and a 200-day simple moving average of $147.08. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 2.65. QUALCOMM has a one year low of $101.47 and a one year high of $183.19. The company has a market cap of $200.48 billion, a PE ratio of 24.15, a P/E/G ratio of 2.46 and a beta of 1.33.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 1.89%. QUALCOMM’s dividend payout ratio is presently 43.01%.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $1,291,950.00. Following the completion of the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,260 shares of company stock worth $7,429,728. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently bought and sold shares of QCOM. Vanguard Group Inc. lifted its position in shares of QUALCOMM by 0.4% in the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after acquiring an additional 483,390 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in QUALCOMM by 8.1% in 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 purchasing an additional 1,909,025 shares in the last quarter. Morgan Stanley boosted its stake in shares of QUALCOMM by 2.2% during the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after purchasing an additional 438,660 shares during the last quarter. Norges Bank purchased a new stake in shares of QUALCOMM during the fourth quarter worth about $2,507,978,000. Finally, Northern Trust Corp raised its position in shares of QUALCOMM by 3.5% in the third quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock valued at $1,365,092,000 after buying an additional 415,398 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.