QUALCOMM (NASDAQ:QCOM) Shares Up 1.9% After Dividend Announcement

Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) were up 1.9% during mid-day trading on Monday after the company announced a dividend. The company traded as high as $165.61 and last traded at $164.56. Approximately 8,063,912 shares were traded during trading, an increase of 24% from the average daily volume of 6,526,932 shares. The stock had previously closed at $161.43.

The newly announced dividend which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.07%. QUALCOMM's dividend payout ratio (DPR) is presently 37.82%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research reports. Loop Capital began coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a "hold" rating and a $180.00 target price for the company. Sanford C. Bernstein lifted their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Susquehanna cut their target price on QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a research report on Wednesday, November 20th. KeyCorp lowered QUALCOMM from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 8th. Finally, Melius Research assumed coverage on QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $206.57.

QUALCOMM Stock Up 1.9 %

The company has a market cap of $182.83 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.63 and a beta of 1.25. The business has a 50-day simple moving average of $158.85 and a two-hundred day simple moving average of $168.57. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares of the company's stock, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares of the company's stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,882 shares of company stock valued at $4,314,649. Company insiders own 0.08% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in QCOM. Reston Wealth Management LLC acquired a new position in QUALCOMM in the 3rd quarter valued at approximately $26,000. HWG Holdings LP acquired a new position in shares of QUALCOMM in the second quarter valued at $30,000. Planning Capital Management Corp lifted its position in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock worth $34,000 after purchasing an additional 114 shares during the period. Accordant Advisory Group Inc acquired a new stake in QUALCOMM during the third quarter worth $36,000. Finally, Legacy Investment Solutions LLC bought a new stake in QUALCOMM in the 3rd quarter valued at $39,000. Institutional investors and hedge funds 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.