Seaport Res Ptn Upgrades QUALCOMM (NASDAQ:QCOM) to Hold

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

Several other brokerages have also recently issued reports on QCOM. Benchmark cut their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company reduced their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Citigroup cut their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of "Hold" and a consensus target price of $192.08.

QUALCOMM Stock Performance

Shares of QCOM stock traded up $1.63 during midday trading on Friday, hitting $152.97. 4,331,976 shares of the company were exchanged, compared to its average volume of 8,922,327. The firm has a market capitalization of $167.96 billion, a P/E ratio of 16.34, a PEG ratio of 2.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm's 50 day moving average price is $146.16 and its two-hundred day moving average price is $157.25. QUALCOMM has a 52 week low of $120.80 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.44 earnings per share. As a group, equities research analysts anticipate that QUALCOMM will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.33%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the transaction, the chief financial officer now owns 59,778 shares of the company's stock, valued at $9,374,385.96. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,312 shares of company stock valued at $1,948,379. Corporate insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On QUALCOMM

Several institutional investors have recently added to or reduced their stakes in the stock. WFA Asset Management Corp purchased a new position in shares of QUALCOMM during the 1st quarter valued at $27,000. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM in the 4th quarter valued at $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM during the fourth quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC raised its position in shares of QUALCOMM by 70.0% during 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 buying an additional 70 shares in the last quarter. Finally, CKW Financial Group purchased a new stake in QUALCOMM in the fourth quarter worth approximately $27,000. 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.