QUALCOMM (NASDAQ:QCOM) Reaches New 12-Month High at $196.15

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $196.15 and last traded at $195.62, with a volume of 501841 shares. The stock had previously closed at $193.86.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on QCOM shares. Piper Sandler boosted their target price on shares of QUALCOMM from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Thursday, May 2nd. KeyCorp boosted their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, April 8th. Robert W. Baird lifted their price target on QUALCOMM from $160.00 to $200.00 and gave the company an "outperform" rating in a research note on Thursday, May 2nd. Benchmark reiterated a "buy" rating and issued a $200.00 target price on shares of QUALCOMM in a research note on Friday, May 3rd. Finally, StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 8th. 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $180.48.

QUALCOMM Trading Up 2.0 %

The stock has a fifty day simple moving average of $172.21 and a 200 day simple moving average of $152.56. The firm has a market capitalization of $220.70 billion, a P/E ratio of 26.51, a PEG ratio of 2.40 and a beta of 1.33. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM's previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.72%. QUALCOMM's payout ratio is currently 43.01%.

Insider Buying and Selling

In other news, CAO Neil Martin sold 371 shares of the firm'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 transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company's stock, valued at $103,232.87. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Neil Martin sold 371 shares of the company's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company's stock, valued at approximately $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the transaction, the chief executive officer now owns 24,300 shares of the company's stock, valued at approximately $3,875,850. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,260 shares of company stock worth $11,478,430. 0.08% of the stock is owned by insiders.

Institutional Trading of QUALCOMM

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of QUALCOMM in the fourth quarter valued at approximately $2,507,978,000. Matrix Capital Management Company LP acquired a new stake in QUALCOMM during the 1st quarter worth $1,171,516,000. International Assets Investment Management LLC grew its holdings in QUALCOMM by 12,998.7% in the 4th 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. lifted its holdings in QUALCOMM by 1,543.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company's stock worth $409,531,000 after buying an additional 2,659,323 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of QUALCOMM by 8.1% during the fourth 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. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

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.