QUALCOMM (NASDAQ:QCOM) Receives Buy Rating from Benchmark

Benchmark reiterated their buy rating on shares of QUALCOMM (NASDAQ:QCOM) in a report published on Friday, Benzinga reports. They currently have a $200.00 price target on the wireless technology company’s stock.

QCOM has been the topic of several other research reports. Mizuho boosted their price objective on shares of QUALCOMM from $160.00 to $180.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. Morgan Stanley upped their price target on QUALCOMM from $158.00 to $172.00 and gave the stock an equal weight rating in a research note on Thursday, May 2nd. KeyCorp lifted their price objective on QUALCOMM from $180.00 to $205.00 and gave the company an overweight rating in a research note on Monday, April 8th. StockNews.com raised QUALCOMM from a buy rating to a strong-buy rating in a research note on Tuesday, April 30th. Finally, Evercore ISI initiated coverage on QUALCOMM in a research report on Tuesday, April 16th. They issued an in-line rating and a $177.00 price target for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $179.36.

QUALCOMM Price Performance

QCOM opened at $181.85 on Friday. QUALCOMM has a 12-month low of $101.47 and a 12-month high of $183.19. The company has a market cap of $202.94 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $168.19 and a two-hundred day simple moving average of $147.58.

QUALCOMM Increases Dividend

The company also recently announced 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 represents a $3.40 annualized dividend and a yield of 1.87%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 43.01%.

Insider Buying and Selling at QUALCOMM

In other news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now owns 54 shares in the company, valued at approximately $9,623.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other QUALCOMM 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 of the company’s stock, valued at $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders sold a total of 46,316 shares of company stock worth $7,796,128 in the last three months. 0.08% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Peoples Bank OH bought a new stake in QUALCOMM during the 4th quarter valued at approximately $219,000. HF Advisory Group LLC purchased a new position in shares of QUALCOMM in the third quarter worth $629,000. Bank Hapoalim BM boosted its position in shares of QUALCOMM by 35.0% during the fourth 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 stake 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 acquiring an additional 11,285 shares in the last quarter. Finally, 1834 Investment Advisors Co. increased its holdings in QUALCOMM by 6.6% in the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock valued at $6,591,000 after acquiring an additional 2,818 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other 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.