Sylvia Acevedo Sells 2,056 Shares of QUALCOMM Incorporated (NASDAQ:QCOM) Stock

QUALCOMM Incorporated (NASDAQ:QCOM) Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction on 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 directly owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

QUALCOMM Trading Down 0.9 %

NASDAQ QCOM opened at $180.15 on Wednesday. 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 firm has a 50-day moving average price of $168.62 and a 200 day moving average price of $148.09. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $184.31. The stock has a market capitalization of $201.05 billion, a P/E ratio of 24.21, a P/E/G ratio of 2.27 and a beta of 1.33.

QUALCOMM Increases Dividend

The business 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 dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.89%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 43.01%.

Analysts Set New Price Targets

QCOM has been the subject of a number of research reports. Canaccord Genuity Group boosted their price target on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Barclays boosted their price target on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Robert W. Baird upped their target price on shares of QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Benchmark reaffirmed a “buy” rating and issued a $200.00 target price on shares of QUALCOMM in a report on Friday, May 3rd. Finally, Wolfe Research upped their target price on shares of QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $180.48.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in QCOM. Lindbrook Capital LLC grew its position in QUALCOMM by 17.8% during the third quarter. Lindbrook Capital LLC now owns 4,555 shares of the wireless technology company’s stock worth $506,000 after buying an additional 688 shares during the period. GPS Wealth Strategies Group LLC grew its position in shares of QUALCOMM by 4.7% in the third quarter. GPS Wealth Strategies Group LLC now owns 6,045 shares of the wireless technology company’s stock valued at $671,000 after purchasing an additional 269 shares during the last quarter. Oak Asset Management LLC grew its position in shares of QUALCOMM by 0.5% in the third quarter. Oak Asset Management LLC now owns 66,632 shares of the wireless technology company’s stock valued at $7,400,000 after purchasing an additional 352 shares during the last quarter. Access Financial Services Inc. grew its position in shares of QUALCOMM by 1.4% in the third quarter. Access Financial Services Inc. now owns 16,520 shares of the wireless technology company’s stock valued at $1,835,000 after purchasing an additional 225 shares during the last quarter. Finally, Calamos Wealth Management LLC grew its position in shares of QUALCOMM by 12.9% in the third quarter. Calamos Wealth Management LLC now owns 2,207 shares of the wireless technology company’s stock valued at $245,000 after purchasing an additional 252 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.