QUALCOMM (NASDAQ:QCOM) PT Raised to $205.00 at Argus

QUALCOMM (NASDAQ:QCOM) had its price target hoisted by Argus from $180.00 to $205.00 in a report published on Tuesday, Benzinga reports. They currently have a buy rating on the wireless technology company’s stock.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. Piper Sandler lifted their target price on QUALCOMM from $165.00 to $185.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. Wolfe Research increased their price target on QUALCOMM from $180.00 to $200.00 and gave the company an outperform rating in a research note on Thursday, May 2nd. Bank of America upped their target price on QUALCOMM from $173.00 to $180.00 and gave the company a buy rating in a report on Thursday, May 2nd. Finally, Morgan Stanley boosted their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an equal weight rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $180.48.

QUALCOMM Stock Performance

QUALCOMM stock opened at $180.15 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The stock has a market cap of $201.05 billion, a PE ratio of 24.21, a P/E/G ratio of 2.27 and a beta of 1.33. QUALCOMM has a 12-month low of $101.47 and a 12-month high of $184.31. The business’s 50-day moving average price is $168.62 and its two-hundred day moving average price is $148.09.

QUALCOMM Increases Dividend

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

Insider Buying and Selling

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Cristiano R. Amon sold 8,100 shares of the business’s 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 transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the sale, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders have sold 46,316 shares of company stock worth $7,796,128 in the last quarter. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Several institutional investors have recently modified their holdings of QCOM. WFA Asset Management Corp bought a new stake in shares of QUALCOMM during the 1st quarter worth $27,000. CarsonAllaria Wealth Management Ltd. increased its holdings in QUALCOMM by 327.1% during the fourth 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 last quarter. Richardson Capital Management LLC bought a new stake in QUALCOMM in the first quarter worth about $37,000. DiNuzzo Private Wealth Inc. purchased a new position in QUALCOMM in the fourth quarter valued at about $32,000. Finally, Cherry Tree Wealth Management LLC grew its position in shares of QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares during the period. 74.35% of the stock is owned by institutional investors.

QUALCOMM Company Profile

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.