QUALCOMM (NASDAQ:QCOM) Upgraded to Hold at Seaport Res Ptn

Seaport Res Ptn upgraded shares of QUALCOMM (NASDAQ:QCOM - Free Report) to a hold rating in a research note published on Friday morning,Zacks.com reports.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. restated an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Benchmark lowered their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Robert W. Baird decreased their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $192.08.

QUALCOMM Price Performance

QCOM traded up $6.94 during trading on Friday, reaching $152.12. The stock had a trading volume of 11,410,320 shares, compared to its average volume of 8,924,583. The firm has a market capitalization of $167.03 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average of $146.38 and a two-hundred day moving average of $157.41. QUALCOMM has a 1-year low of $120.80 and a 1-year high of $230.63.

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 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter last year, the firm posted $2.44 earnings per share. QUALCOMM's revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts anticipate that QUALCOMM will post 9.39 EPS for the current fiscal 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 issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.34%. QUALCOMM's dividend payout ratio is 36.25%.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the transaction, the chief financial officer now owns 57,728 shares of the company's stock, valued at $7,568,140.80. This represents a 0.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 744 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This represents a 61.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,312 shares of company stock valued at $2,457,779 over the last 90 days. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On QUALCOMM

Several institutional investors and hedge funds have recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM during the 4th quarter worth approximately $26,000. Banque Transatlantique SA bought a new position in QUALCOMM in the 4th quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 70 shares during the period. CKW Financial Group bought a new stake in shares of QUALCOMM during the 4th quarter worth $27,000. Finally, WFA Asset Management Corp bought a new stake in shares of QUALCOMM during the 1st quarter worth $27,000. Hedge funds and other 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.