QUALCOMM (NASDAQ:QCOM) Shares Up 0.2% on Analyst Upgrade

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price shot up 0.2% on Wednesday after Argus raised their price target on the stock from $180.00 to $205.00. Argus currently has a buy rating on the stock. QUALCOMM traded as high as $180.71 and last traded at $180.56. 2,194,854 shares traded hands during trading, a decline of 75% from the average session volume of 8,650,377 shares. The stock had previously closed at $180.15.

Other analysts also recently issued research reports about the company. Wells Fargo & Company increased their target price on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. Barclays upped their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Mizuho boosted their price objective on shares of QUALCOMM from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. KeyCorp boosted their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Rosenblatt Securities lifted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $180.48.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Neil Martin sold 371 shares of the 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 transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s 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 completion of the sale, the chief executive officer now owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,316 shares of company stock worth $7,796,128. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Hedge funds have recently bought and sold shares of the company. ProVise Management Group LLC increased its stake in QUALCOMM by 6.7% during the 1st quarter. ProVise Management Group LLC now owns 1,911 shares of the wireless technology company’s stock worth $324,000 after purchasing an additional 120 shares in the last quarter. Leo Wealth LLC lifted its position in QUALCOMM by 16.7% in the 1st quarter. Leo Wealth LLC now owns 3,084 shares of the wireless technology company’s stock valued at $526,000 after acquiring an additional 441 shares in the last quarter. Blair William & Co. IL boosted its stake in QUALCOMM by 1.1% in the 1st quarter. Blair William & Co. IL now owns 332,356 shares of the wireless technology company’s stock worth $56,268,000 after purchasing an additional 3,667 shares during the period. HBK Sorce Advisory LLC raised its stake in shares of QUALCOMM by 1.3% in the 1st quarter. HBK Sorce Advisory LLC now owns 20,824 shares of the wireless technology company’s stock valued at $3,525,000 after purchasing an additional 268 shares during the period. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of QUALCOMM by 9.0% in the first quarter. Kingsview Wealth Management LLC now owns 101,848 shares of the wireless technology company’s stock valued at $17,243,000 after purchasing an additional 8,391 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Down 0.0 %

The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The company has a market capitalization of $201.48 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 2.27 and a beta of 1.33. The firm has a 50-day moving average price of $169.12 and a two-hundred day moving average price of $148.31.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued 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 dividend yield of 1.88%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

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.