QUALCOMM (NASDAQ:QCOM) Reaches New 12-Month High at $184.73

Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $184.73 and last traded at $184.40, with a volume of 944884 shares traded. The stock had previously closed at $182.08.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 8th. Bank of America raised their price objective on QUALCOMM from $173.00 to $180.00 and gave the stock a "buy" rating in a research report on Thursday, May 2nd. UBS Group upped their target price on shares of QUALCOMM from $165.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, May 2nd. Citigroup lifted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company a "neutral" rating in a report on Thursday, May 2nd. Finally, Wolfe Research upped their price target on QUALCOMM from $180.00 to $200.00 and gave the stock an "outperform" rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $180.48.

QUALCOMM Stock Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The stock has a 50 day moving average of $169.95 and a 200 day moving average of $149.64. The stock has a market capitalization of $205.58 billion, a P/E ratio of 24.74, a P/E/G ratio of 2.25 and a beta of 1.33.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.80. QUALCOMM's payout ratio is 45.70%.

Insider Activity

In related news, CAO Neil Martin sold 371 shares of the company's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company's stock, valued at $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Neil Martin sold 371 shares of the business'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 value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sylvia Acevedo sold 744 shares of the firm's stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the sale, the director now owns 54 shares of the company's stock, valued at $9,802.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,160 shares of company stock valued at $9,939,349. Company insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in QUALCOMM during the 4th quarter worth approximately $2,507,978,000. International Assets Investment Management LLC grew its holdings in shares of QUALCOMM by 12,998.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company's stock valued at $434,780,000 after buying an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. raised its position in QUALCOMM by 1,543.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company's stock valued at $409,531,000 after buying an additional 2,659,323 shares during the period. Price T Rowe Associates Inc. MD boosted its position in QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company's stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares during the period. Finally, Barclays PLC lifted its position in shares of QUALCOMM by 53.6% in the third quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company's stock worth $586,760,000 after purchasing an additional 1,842,868 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.