QUALCOMM (NASDAQ:QCOM) Price Target Raised to $185.00

QUALCOMM (NASDAQ:QCOM) had its price objective increased by JPMorgan Chase & Co. from $170.00 to $185.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the wireless technology company’s stock.

Other analysts also recently issued research reports about the stock. TD Cowen raised their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. StockNews.com raised shares of QUALCOMM from a buy rating to a strong-buy rating in a research report on Tuesday, April 30th. Evercore ISI began coverage on QUALCOMM in a report on Tuesday, April 16th. They issued an in-line rating and a $177.00 price objective for the company. Citigroup downgraded QUALCOMM from a buy rating to a neutral rating and set a $160.00 target price on the stock. in a report on Thursday, February 1st. Finally, Benchmark initiated coverage on QUALCOMM in a report on Tuesday, April 23rd. They issued a buy rating and a $200.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of Moderate Buy and a consensus target price of $179.36.

QUALCOMM Stock Down 0.3 %

NASDAQ:QCOM traded down $0.46 on Thursday, reaching $179.64. The stock had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. The company has a 50-day moving average of $167.69 and a 200 day moving average of $146.59. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59. The stock has a market cap of $200.48 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 2.46 and a beta of 1.33. QUALCOMM has a 12-month low of $101.47 and a 12-month high of $183.19.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. On average, research analysts predict that QUALCOMM will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.89%. QUALCOMM’s payout ratio is 43.01%.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of QUALCOMM 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 sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the transaction, the chief executive officer now owns 24,300 shares in the company, valued at $3,875,850. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Insiders have sold a total of 44,260 shares of company stock worth $7,429,728 in the last 90 days. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of QCOM. 9258 Wealth Management LLC grew its holdings in QUALCOMM by 0.9% in the 1st quarter. 9258 Wealth Management LLC now owns 10,258 shares of the wireless technology company’s stock valued at $1,737,000 after buying an additional 91 shares during the last quarter. Gould Asset Management LLC CA acquired a new position in shares of QUALCOMM during the first quarter worth approximately $226,000. WBI Investments LLC boosted its position in shares of QUALCOMM by 50.3% in the first quarter. WBI Investments LLC now owns 13,111 shares of the wireless technology company’s stock valued at $2,220,000 after acquiring an additional 4,387 shares during the period. Team Hewins LLC grew its stake in shares of QUALCOMM by 2.2% in the first quarter. Team Hewins LLC now owns 7,761 shares of the wireless technology company’s stock worth $1,314,000 after acquiring an additional 167 shares during the last quarter. Finally, Affinity Investment Advisors LLC increased its position in QUALCOMM by 4.2% during the first quarter. Affinity Investment Advisors LLC now owns 9,997 shares of the wireless technology company’s stock worth $1,692,000 after acquiring an additional 400 shares during the period. 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.