QUALCOMM (NASDAQ:QCOM) Trading Up 1.4%

Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) rose 1.4% during mid-day trading on Wednesday . The company traded as high as $204.12 and last traded at $203.62. Approximately 2,391,133 shares traded hands during trading, a decline of 72% from the average daily volume of 8,550,233 shares. The stock had previously closed at $200.85.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on QCOM. HSBC raised their price target on QUALCOMM from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Tuesday, April 30th. Wolfe Research upped their price target on QUALCOMM from $180.00 to $200.00 and gave the stock an "outperform" rating in a report on Thursday, May 2nd. Bank of America increased their price objective on QUALCOMM from $173.00 to $180.00 and gave the company a "buy" rating in a research report on Thursday, May 2nd. StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 8th. Finally, Canaccord Genuity Group increased their price target on shares of QUALCOMM from $180.00 to $206.00 and gave the company a "buy" rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $180.48.

QUALCOMM Stock Performance

The stock has a 50-day moving average of $173.30 and a 200 day moving average of $153.70. 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 firm has a market capitalization of $226.47 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. On average, research analysts anticipate that QUALCOMM Incorporated will post 7.81 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.68%. This is a boost from QUALCOMM's previous quarterly dividend of $0.80. QUALCOMM's dividend payout ratio is currently 43.01%.

Insiders Place Their Bets

In related news, Director Neil Smit sold 3,069 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the sale, the director now directly owns 5,902 shares of the company's stock, valued at approximately $1,185,947.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 689 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $160.64, for a total value of $110,680.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Neil Smit sold 3,069 shares of the firm's stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now directly owns 5,902 shares of the company's stock, valued at $1,185,947.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,074 shares of company stock worth $12,258,386. Corporate insiders own 0.08% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in QCOM. Norges Bank bought a new stake in shares of QUALCOMM during the 4th quarter worth approximately $2,507,978,000. Matrix Capital Management Company LP acquired a new stake in QUALCOMM in the first quarter valued at $1,171,516,000. International Assets Investment Management LLC grew its position in shares of 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 acquiring an additional 2,983,206 shares during the period. Pacer Advisors Inc. increased its stake in shares of 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 purchasing an additional 2,659,323 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of QUALCOMM by 8.1% in the 4th 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 purchasing an additional 1,909,025 shares during the period. Institutional investors and hedge funds 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.