QUALCOMM (NASDAQ:QCOM) Shares Up 1.1%

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price shot up 1.1% during mid-day trading on Tuesday . The stock traded as high as $165.69 and last traded at $164.62. 1,850,502 shares were traded during mid-day trading, a decline of 80% from the average session volume of 9,365,459 shares. The stock had previously closed at $162.89.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QCOM. Morgan Stanley increased their price target on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $215.00 target price on shares of QUALCOMM in a research report on Thursday, August 1st. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research report on Wednesday, July 17th. Finally, Mizuho lifted their target price on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.63.

QUALCOMM Stock Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The company has a market capitalization of $189.13 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 1.74 and a beta of 1.27. The business has a 50 day moving average of $195.29 and a 200-day moving average of $178.96.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. QUALCOMM’s payout ratio is 45.70%.

Insider Activity at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.01, for a total transaction of $1,539,081.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.01, for a total transaction of $1,539,081.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Neil Smit sold 3,069 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the transaction, the director now owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,285 shares of company stock worth $5,871,215. 0.08% of the stock is owned by company insiders.

Hedge Funds Weigh In On QUALCOMM

A number of hedge funds and other institutional investors have recently modified their holdings of QCOM. Norges Bank purchased a new position in shares of QUALCOMM in the 4th quarter worth about $2,507,978,000. Matrix Capital Management Company LP purchased a new position in shares of QUALCOMM in the 1st quarter worth about $1,171,516,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after purchasing an additional 3,047,947 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after acquiring an additional 1,909,025 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in QUALCOMM by 34.8% during the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after acquiring an additional 1,519,781 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

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.