QUALCOMM (NASDAQ:QCOM) Trading Up 0.8%

Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) shot up 0.8% on Thursday . The company traded as high as $207.95 and last traded at $204.62. 5,407,722 shares traded hands during trading, a decline of 37% from the average session volume of 8,600,478 shares. The stock had previously closed at $202.93.

Analyst Ratings Changes

A number of research firms recently weighed in on QCOM. Piper Sandler raised their price objective on QUALCOMM from $165.00 to $185.00 and gave the company an "overweight" rating in a research report on Thursday, May 2nd. Citigroup raised their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a "neutral" rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. raised their price objective on QUALCOMM from $170.00 to $185.00 and gave the company an "overweight" rating in a research report on Thursday, May 2nd. Morgan Stanley raised their price objective on QUALCOMM from $158.00 to $172.00 and gave the company an "equal weight" rating in a research report on Thursday, May 2nd. Finally, Susquehanna raised their price objective on QUALCOMM from $175.00 to $205.00 and gave the company a "positive" rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $180.48.

QUALCOMM Trading Down 0.6 %

The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $174.64 and a 200 day simple moving average of $154.38. The firm has a market capitalization of $225.16 billion, a P/E ratio of 27.12, a PEG ratio of 2.48 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion for the quarter, compared to analysts' expectations of $9.32 billion. As a group, research analysts forecast that QUALCOMM Incorporated will post 7.81 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.69%. This is a boost from QUALCOMM's previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM's payout ratio is 43.01%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now directly owns 24,300 shares of the company's stock, valued at $3,875,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company'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 of the company's stock, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the company's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at approximately $3,875,850. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,074 shares of company stock valued at $12,258,386. 0.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of QCOM. Norges Bank bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $2,507,978,000. Matrix Capital Management Company LP bought a new position in QUALCOMM in the first quarter worth approximately $1,171,516,000. International Assets Investment Management LLC grew its stake in QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company's stock worth $434,780,000 after purchasing an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. grew its stake in QUALCOMM by 1,543.8% in the fourth 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in QUALCOMM by 8.1% in 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 purchasing an additional 1,909,025 shares in the last quarter. 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.