QUALCOMM Incorporated (NASDAQ:QCOM) Given Consensus Recommendation of "Hold" by Brokerages

Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) have earned an average rating of "Hold" from the twenty-eight brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twelve have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $186.96.

A number of brokerages have issued reports on QCOM. Wells Fargo & Company cut their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup reduced their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Susquehanna dropped their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Finally, Benchmark cut their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st.

QUALCOMM Trading Up 1.7%

QUALCOMM stock opened at $155.71 on Wednesday. The business has a 50 day moving average price of $148.16 and a two-hundred day moving average price of $154.83. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. QUALCOMM has a 12 month low of $120.80 and a 12 month high of $211.09. The stock has a market cap of $170.97 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 1.98 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. During the same period last year, the business earned $2.44 earnings per share. QUALCOMM's quarterly revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts forecast that QUALCOMM will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a $0.89 dividend. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total value of $486,951.30. Following the completion of the sale, the chief financial officer now owns 49,779 shares in the company, valued at $7,272,711.90. This represents a 6.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares of the company's stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Teza Capital Management LLC bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $1,541,000. Purkiss Capital Advisors LLC bought a new position in QUALCOMM in the fourth quarter valued at $303,000. Amundi increased its stake in QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. First Foundation Advisors increased its stake in QUALCOMM by 41.2% in the 4th quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company's stock valued at $24,083,000 after buying an additional 45,769 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its position in QUALCOMM by 42.2% during the 1st quarter. Sound Income Strategies LLC now owns 1,055 shares of the wireless technology company's stock worth $162,000 after buying an additional 313 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

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.

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