QUALCOMM (NASDAQ:QCOM) Shares Up 0.7%

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s share price was up 0.7% during mid-day trading on Monday . The stock traded as high as $166.98 and last traded at $166.78. Approximately 1,269,659 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 8,432,809 shares. The stock had previously closed at $165.66.

Analyst Ratings Changes

Several research analysts recently issued reports on QCOM shares. Canaccord Genuity Group increased their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, January 19th. Benchmark began coverage on shares of QUALCOMM in a research report on Tuesday, April 23rd. They set a "buy" rating and a $200.00 price objective on the stock. Piper Sandler increased their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, February 1st. Susquehanna increased their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the company a "positive" rating in a research report on Wednesday, April 10th. Finally, Mizuho increased their price objective on shares of QUALCOMM from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $158.86.

QUALCOMM Stock Performance

The business's fifty day moving average price is $166.17 and its 200-day moving average price is $145.34. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The stock has a market cap of $188.83 billion, a PE ratio of 24.52, a P/E/G ratio of 2.27 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed 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. This is an increase from QUALCOMM's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. QUALCOMM's dividend payout ratio (DPR) is presently 46.38%.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares of the company's stock, valued at $43,018,245.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the sale, the chief technology officer now owns 269,893 shares in the company, valued at approximately $43,018,245.27. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $55,586.93. Following the sale, 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. Over the last quarter, insiders have sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $2,507,978,000. International Assets Investment Management LLC raised its position 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 during the last quarter. Pacer Advisors Inc. raised its position in shares of 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 last quarter. Price T Rowe Associates Inc. MD raised 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 valued at $3,664,418,000 after buying an additional 1,909,025 shares during the last quarter. Finally, Barclays PLC raised its position in shares of QUALCOMM by 53.6% during the third quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company's stock valued at $586,760,000 after buying an additional 1,842,868 shares during the last quarter. 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.