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Mizuho Cuts QUALCOMM (NASDAQ:QCOM) Price Target to $185.00

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QUALCOMM (NASDAQ:QCOM - Free Report) had its price objective trimmed by Mizuho from $190.00 to $185.00 in a report released on Thursday, Marketbeat reports. The firm currently has an outperform rating on the wireless technology company's stock.

QCOM has been the subject of a number of other research reports. Citigroup reissued a "hold" rating on shares of QUALCOMM in a report on Thursday, July 17th. Sanford C. Bernstein set a $185.00 price objective on QUALCOMM and gave the company an "outperform" rating in a research note on Monday. Wells Fargo & Company reduced their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Bank of America lowered their target price on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. Finally, Evercore ISI lowered their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has an average rating of "Hold" and a consensus price target of $181.91.

Read Our Latest Stock Report on QUALCOMM

QUALCOMM Trading Up 0.8%

NASDAQ:QCOM traded up $1.14 on Thursday, reaching $147.90. 3,597,463 shares of the stock traded hands, compared to its average volume of 8,474,896. QUALCOMM has a 1-year low of $120.80 and a 1-year high of $182.10. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $162.40 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26. The company's 50 day moving average is $155.05 and its 200-day moving average is $155.00.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.71 by $0.06. The business had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a return on equity of 40.44% and a net margin of 26.77%. QUALCOMM's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.33 earnings per share. Equities research analysts anticipate that QUALCOMM will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Insider Activity

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the transaction, the chief financial officer directly owned 46,446 shares of the company's stock, valued at $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 422,499 shares of company stock worth $8,090,351 in the last three months. Insiders own 0.08% of the company's stock.

Institutional Trading of QUALCOMM

Several institutional investors and hedge funds have recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC lifted its holdings in QUALCOMM by 656,661.0% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 58,773,542 shares of the wireless technology company's stock worth $9,360,274,000 after purchasing an additional 58,764,593 shares during the last quarter. Nuveen LLC acquired a new stake in shares of QUALCOMM in the 1st quarter valued at $529,713,000. GAMMA Investing LLC increased its holdings in shares of QUALCOMM by 20,700.4% during the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after buying an additional 3,247,068 shares in the last quarter. Northern Trust Corp raised its position in QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of QUALCOMM by 17.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock valued at $1,502,509,000 after acquiring an additional 1,424,106 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

About QUALCOMM

(Get Free Report)

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.

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Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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