QUALCOMM Incorporated (NASDAQ:QCOM) Given Average Recommendation of “Hold” by Brokerages

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) have earned an average recommendation of “Hold” from the twenty-eight research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $189.88.

Several analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. 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. Citigroup reduced their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Benchmark reduced their price objective on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Finally, Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Monday, May 5th. The shares were sold at an average price of $139.77, for a total value of $465,853.41. Following the sale, the chief financial officer now directly owns 53,112 shares in the company, valued at approximately $7,423,464.24. The trade was a 5.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 425,068 shares of company stock valued at $8,418,305 over the last 90 days. 0.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM during the fourth quarter worth approximately $26,000. Banque Transatlantique SA acquired a new position in shares of QUALCOMM in the fourth quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC grew its position in shares of QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 70 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its position in QUALCOMM by 122.4% during the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock worth $26,000 after buying an additional 93 shares in the last quarter. Finally, WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the 1st quarter worth $27,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Down 2.1%

NASDAQ:QCOM opened at $145.22 on Friday. QUALCOMM has a 1 year low of $120.80 and a 1 year high of $230.63. The stock has a market cap of $159.45 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 2.01 and a beta of 1.29. The business has a fifty day moving average of $144.30 and a 200-day moving average of $155.62. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS 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 business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the firm earned $2.44 EPS. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. Equities analysts predict that QUALCOMM will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

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.