Brokerages Set QUALCOMM Incorporated (NASDAQ:QCOM) Target Price at $192.58

QUALCOMM Incorporated (NASDAQ:QCOM) has been given a consensus recommendation of “Hold” by the twenty-eight ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $192.08.

Several equities analysts have commented on the stock. TD Cowen dropped their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Robert W. Baird dropped their target price on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Wells Fargo & Company dropped their price objective on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th.

QUALCOMM Price Performance

QCOM stock opened at $145.03 on Tuesday. The business’s 50-day moving average is $146.57 and its two-hundred day moving average is $157.74. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm has a market capitalization of $159.24 billion, a P/E ratio of 15.49, a P/E/G ratio of 2.01 and a beta of 1.29. QUALCOMM has a 1 year low of $120.80 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. During the same quarter last year, the company earned $2.44 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. Analysts anticipate that QUALCOMM will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.45%. QUALCOMM’s dividend payout ratio is 36.25%.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares in the company, valued at approximately $7,568,140.80. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,599 shares of company stock worth $5,733,290 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in QCOM. Nordea Investment Management AB increased its stake in shares of QUALCOMM by 39.7% during the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after buying an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in QUALCOMM during the fourth quarter worth $2,058,000. Burney Co. raised its holdings in shares of QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after acquiring an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $240,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

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.