QUALCOMM (NASDAQ:QCOM) Stock Price Up 1%

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price shot up 1% during mid-day trading on Monday . The stock traded as high as $182.40 and last traded at $181.41. 1,559,565 shares were traded during mid-day trading, a decline of 82% from the average session volume of 8,671,343 shares. The stock had previously closed at $179.64.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent analyst reports. HSBC upped their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Mizuho upped their price target on QUALCOMM from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Barclays boosted their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Rosenblatt Securities lifted their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Canaccord Genuity Group increased their price objective on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $180.48.

QUALCOMM Stock Up 0.2 %

The stock has a market cap of $201.49 billion, a P/E ratio of 24.27, a P/E/G ratio of 2.27 and a beta of 1.33. The company’s 50 day moving average price is $168.62 and its two-hundred day moving average price is $148.09. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is presently 45.70%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,316 shares of company stock valued at $7,796,128. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Hedge funds and other institutional investors have recently bought and sold shares of the business. Calamos Wealth Management LLC raised its holdings in QUALCOMM by 12.9% in the 3rd quarter. Calamos Wealth Management LLC now owns 2,207 shares of the wireless technology company’s stock worth $245,000 after purchasing an additional 252 shares during the period. Chicago Partners Investment Group LLC grew its stake in QUALCOMM by 18.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,512 shares of the wireless technology company’s stock valued at $925,000 after acquiring an additional 1,316 shares during the period. Altfest L J & Co. Inc. increased its holdings in QUALCOMM by 113.0% in the 3rd quarter. Altfest L J & Co. Inc. now owns 5,353 shares of the wireless technology company’s stock worth $595,000 after acquiring an additional 2,840 shares in the last quarter. Graypoint LLC raised its position in QUALCOMM by 10.5% during the third quarter. Graypoint LLC now owns 4,627 shares of the wireless technology company’s stock worth $514,000 after acquiring an additional 441 shares during the period. Finally, Gratus Capital LLC lifted its holdings in QUALCOMM by 42.1% during the third quarter. Gratus Capital LLC now owns 6,468 shares of the wireless technology company’s stock valued at $718,000 after purchasing an additional 1,917 shares in the last quarter. 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.