Brokerages Set QUALCOMM Incorporated (NASDAQ:QCOM) Price Target at $180.48

QUALCOMM Incorporated (NASDAQ:QCOM) has been given an average rating of “Moderate Buy” by the twenty-three analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $180.48.

QCOM has been the subject of several research reports. JPMorgan Chase & Co. boosted their price target on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Barclays increased their price target on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Rosenblatt Securities increased their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Bank of America increased their price target on QUALCOMM from $173.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Piper Sandler increased their price objective on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $201.76 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. QUALCOMM has a fifty-two week low of $101.47 and a fifty-two week high of $207.95. The company has a market cap of $225.16 billion, a PE ratio of 27.12, a P/E/G ratio of 2.48 and a beta of 1.33. The business has a 50-day simple moving average of $174.64 and a two-hundred day simple moving average of $154.38.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. As a group, equities analysts expect that QUALCOMM will post 7.81 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared 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. This represents a $3.40 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is currently 43.01%.

Insider Buying and Selling

In related news, CAO Neil Martin sold 689 shares of QUALCOMM stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $160.64, for a total transaction of $110,680.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the sale, the chief technology officer now owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Neil Martin sold 689 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $160.64, for a total value of $110,680.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,074 shares of company stock valued at $12,258,386. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors have recently added to or reduced their stakes in QCOM. Financial Gravity Asset Management Inc. lifted its stake in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. WFA Asset Management Corp bought a new position in QUALCOMM in the 1st quarter worth approximately $27,000. CarsonAllaria Wealth Management Ltd. grew its holdings in QUALCOMM by 327.1% in the 4th 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 in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in QUALCOMM during the 4th quarter valued at $32,000. Finally, Cherry Tree Wealth Management LLC boosted its stake in 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 purchasing an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

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.