UBS Group Boosts QUALCOMM (NASDAQ:QCOM) Price Target to $175.00

QUALCOMM (NASDAQ:QCOM) had its target price hoisted by UBS Group from $165.00 to $175.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the wireless technology company’s stock.

Several other research analysts have also recently commented on QCOM. TD Cowen raised their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an outperform rating in a report on Thursday, February 1st. Piper Sandler raised their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an overweight rating in a report on Thursday, February 1st. Cantor Fitzgerald raised their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a neutral rating in a report on Monday, April 8th. Barclays raised their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an overweight rating in a report on Tuesday, January 16th. Finally, HSBC lifted their price objective on shares of QUALCOMM from $170.00 to $190.00 and gave the company a buy rating in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $179.36.

QUALCOMM Stock Performance

QUALCOMM stock traded up $1.53 during trading hours on Thursday, hitting $181.17. The company had a trading volume of 521,773 shares, compared to its average volume of 8,659,256. The firm has a market cap of $202.19 billion, a PE ratio of 24.30, a PEG ratio of 2.27 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. QUALCOMM has a one year low of $101.47 and a one year high of $183.19. The firm has a 50-day moving average of $167.69 and a 200 day moving average of $147.08.

QUALCOMM Increases Dividend

The company also recently announced 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 a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 1.88%. QUALCOMM’s payout ratio is presently 43.01%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM 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 directly owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction 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 sale, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 371 shares of the firm’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 sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,260 shares of company stock valued at $7,429,728. 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 QCOM. Financial Gravity Asset Management Inc. increased its stake in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the last quarter. WFA Asset Management Corp purchased a new stake in QUALCOMM in the first quarter worth $27,000. Legacy Financial Group LLC bought a new stake in shares of QUALCOMM in the third quarter valued at $29,000. CarsonAllaria Wealth Management Ltd. grew its stake in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after acquiring an additional 157 shares during the period. Finally, DiNuzzo Private Wealth Inc. purchased a new position in shares of QUALCOMM in the fourth quarter worth about $32,000. Institutional investors own 74.35% of the company’s stock.

About QUALCOMM

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.