QUALCOMM (NASDAQ:QCOM) Trading 1.5% Higher

QUALCOMM Incorporated (NASDAQ:QCOM) shot up 1.5% during mid-day trading on Friday . The stock traded as high as $167.65 and last traded at $167.52. 744,293 shares traded hands during trading, a decline of 92% from the average session volume of 9,189,519 shares. The stock had previously closed at $164.98.

Analysts Set New Price Targets

Several research firms have recently commented on QCOM. Mizuho increased their price target on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Robert W. Baird lifted their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Rosenblatt Securities lifted their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays boosted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.63.

QUALCOMM Stock Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The company has a 50 day moving average of $176.88 and a two-hundred day moving average of $181.63. The company has a market capitalization of $186.86 billion, a PE ratio of 22.52, a PEG ratio of 1.82 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently declared 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. This represents a $3.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is presently 45.70%.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,496,590 in the last ninety days. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Several institutional investors have recently modified their holdings of QCOM. HWG Holdings LP acquired a new stake in shares of QUALCOMM in the second quarter valued at approximately $30,000. WFA Asset Management Corp acquired a new stake in QUALCOMM in the 1st quarter worth $27,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM during the 2nd quarter valued at about $32,000. Aspect Partners LLC boosted its position in 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 buying an additional 74 shares in the last quarter. Finally, McClarren Financial Advisors Inc. raised its stake in shares of QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other 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.