QUALCOMM (NASDAQ:QCOM) Shares Up 1.6%

QUALCOMM Incorporated (NASDAQ:QCOM) shares rose 1.6% during trading on Friday . The stock traded as high as $179.94 and last traded at $178.26. Approximately 1,260,286 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 9,149,701 shares. The stock had previously closed at $175.39.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. Mizuho increased their price objective on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Susquehanna boosted their target price on shares of QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. KeyCorp upped their target price on shares of QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Finally, Bank of America lifted their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.63.

QUALCOMM Trading Up 2.5 %

The stock has a market cap of $200.60 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 2.20 and a beta of 1.27. The stock’s 50-day moving average is $204.47 and its two-hundred day moving average is $176.72. 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 (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. Equities research analysts anticipate that QUALCOMM Incorporated will post 7.84 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $180.69, for a total transaction of $542,070.00. Following the sale, the chief financial officer now directly owns 66,343 shares in the company, valued at approximately $11,987,516.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, May 9th. The shares were 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 directly owns 66,343 shares of the company’s stock, valued at $11,987,516.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 1,116 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the sale, the chief accounting officer now directly owns 358 shares in the company, valued at approximately $70,207.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,185 shares of company stock worth $8,552,835. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. WFA Asset Management Corp bought a new position in QUALCOMM in the 1st quarter worth about $27,000. Aspect Partners LLC boosted its holdings in shares of QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the period. First Pacific Financial bought a new position in QUALCOMM in the second quarter worth approximately $40,000. CarsonAllaria Wealth Management Ltd. increased its holdings in 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 purchasing an additional 157 shares during the period. Finally, Richardson Capital Management LLC bought a new stake in QUALCOMM during the 1st quarter valued at $37,000. Hedge funds and other 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.