QUALCOMM Incorporated (NASDAQ:QCOM) Declares Quarterly Dividend of $0.85

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) announced a quarterly dividend on Wednesday, April 17th, RTT News reports. Shareholders of record on Thursday, May 30th will be given a dividend of 0.85 per share by the wireless technology company on Thursday, June 20th. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. This is an increase from QUALCOMM's previous quarterly dividend of $0.80.

QUALCOMM has increased its dividend payment by an average of 7.0% per year over the last three years and has raised its dividend annually for the last 21 consecutive years. QUALCOMM has a dividend payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect QUALCOMM to earn $8.51 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 37.6%.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded down $4.26 during trading on Wednesday, hitting $164.32. The stock had a trading volume of 8,079,240 shares, compared to its average volume of 8,607,317. QUALCOMM has a 12-month low of $101.47 and a 12-month high of $177.59. The stock has a market capitalization of $183.38 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 2.32 and a beta of 1.41. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The stock has a 50-day simple moving average of $164.11 and a two-hundred day simple moving average of $142.05.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.50 billion. On average, equities research analysts expect that QUALCOMM will post 7.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the company. Rosenblatt Securities raised their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, February 1st. Piper Sandler lifted their price target on QUALCOMM from $140.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, February 1st. Evercore ISI assumed coverage on QUALCOMM in a research note on Tuesday. They issued an "in-line" rating and a $177.00 price target on the stock. Barclays lifted their price target on QUALCOMM from $140.00 to $155.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 16th. Finally, Canaccord Genuity Group lifted their price target on QUALCOMM from $152.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $156.90.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 371 shares of the firm's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold a total of 44,360 shares of company stock worth $7,184,678 in the last quarter. 0.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in QCOM. Moneta Group Investment Advisors LLC grew its stake in QUALCOMM by 117,461.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company's stock worth $2,703,193,000 after buying an additional 24,566,978 shares during the last quarter. Norges Bank acquired a new stake in QUALCOMM during the 4th quarter worth approximately $1,467,351,000. Cowa LLC acquired a new stake in QUALCOMM during the 1st quarter worth approximately $94,000. Morgan Stanley lifted its position in QUALCOMM by 22.2% during the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company's stock worth $2,375,020,000 after acquiring an additional 3,929,586 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in QUALCOMM by 409.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,011,105 shares of the wireless technology company's stock worth $331,039,000 after acquiring an additional 2,419,686 shares during the period. Hedge funds and other institutional investors 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.