QUALCOMM Incorporated (NASDAQ:QCOM) to Issue $0.85 Quarterly Dividend

QUALCOMM Incorporated (NASDAQ:QCOM) declared a quarterly dividend on Friday, January 10th, RTT News reports. Shareholders of record on Thursday, March 6th will be paid a dividend of 0.85 per share by the wireless technology company on Thursday, March 27th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Thursday, March 6th.

QUALCOMM has raised its dividend by an average of 7.2% annually over the last three years and has raised its dividend every year for the last 22 years. QUALCOMM has a dividend payout ratio of 27.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect QUALCOMM to earn $9.86 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 34.5%.

QUALCOMM Trading Down 2.3 %

Shares of QCOM opened at $153.62 on Tuesday. QUALCOMM has a 12 month low of $149.43 and a 12 month high of $230.63. The stock has a market cap of $169.90 billion, a PE ratio of 16.41, a P/E/G ratio of 2.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock’s 50-day moving average is $164.84 and its two-hundred day moving average is $165.47.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Equities analysts forecast that QUALCOMM will post 9.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,337 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. This represents a 5.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. This represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,045 shares of company stock worth $8,237,043. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on QCOM shares. Evercore ISI decreased their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Sanford C. Bernstein lifted their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Susquehanna reduced their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Melius initiated coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $205.32.

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.