QUALCOMM (NASDAQ:QCOM) Price Target Raised to $170.00

QUALCOMM (NASDAQ:QCOM) had its price target upped by Wells Fargo & Company from $140.00 to $170.00 in a report published on Thursday, Benzinga reports. The firm currently has an underweight rating on the wireless technology company’s stock.

QCOM has been the topic of several other reports. KeyCorp upped their price objective on QUALCOMM from $205.00 to $225.00 and gave the company an overweight rating in a research report on Tuesday, July 9th. Mizuho upped their price objective on QUALCOMM from $180.00 to $240.00 and gave the company a buy rating in a research report on Friday, May 31st. Argus upped their price objective on QUALCOMM from $180.00 to $205.00 and gave the company a buy rating in a research report on Tuesday, May 7th. Rosenblatt Securities upped their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a buy rating in a research report on Thursday. Finally, Tigress Financial upped their price objective on QUALCOMM from $238.00 to $270.00 and gave the company a buy rating in a research report on Friday, June 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $210.63.

QUALCOMM Stock Down 0.2 %

Shares of QUALCOMM stock traded down $0.30 during midday trading on Thursday, hitting $159.01. The company had a trading volume of 4,554,809 shares, compared to its average volume of 9,392,492. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.98 and a current ratio of 2.39. The stock has a market capitalization of $177.14 billion, a P/E ratio of 21.41, a P/E/G ratio of 1.99 and a beta of 1.27. The company has a 50 day moving average of $200.91 and a 200 day moving average of $178.59. QUALCOMM has a 52-week low of $104.33 and a 52-week high of $230.63.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.14%. QUALCOMM’s payout ratio is presently 45.70%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $180.69, for a total value of $542,070.00. Following the completion of the sale, the chief financial officer now owns 66,343 shares in the company, valued at approximately $11,987,516.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $180.69, for a total transaction of $542,070.00. Following the completion of the transaction, the chief financial officer now owns 66,343 shares in the company, valued at $11,987,516.67. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,129 shares of company stock worth $6,730,436. Corporate insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in QCOM. Norges Bank bought a new position in shares of QUALCOMM in the 4th quarter valued at about $2,507,978,000. Matrix Capital Management Company LP bought a new stake in QUALCOMM in the first quarter worth about $1,171,516,000. International Assets Investment Management LLC lifted its stake in QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after purchasing an additional 2,983,206 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after purchasing an additional 1,519,781 shares during the last quarter. 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.