QUALCOMM Incorporated (NASDAQ:QCOM) Declares $0.85 Quarterly Dividend

QUALCOMM Incorporated (NASDAQ:QCOM) announced a quarterly dividend on Wednesday, October 16th, RTT News reports. Investors of record on Thursday, December 5th will be paid a dividend of 0.85 per share by the wireless technology company on Thursday, December 19th. This represents a $3.40 annualized dividend and a yield of 1.97%.

QUALCOMM has raised its dividend by an average of 7.0% per year over the last three years and has raised its dividend every year for the last 22 years. QUALCOMM has a dividend payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect QUALCOMM to earn $8.73 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 38.9%.

QUALCOMM Stock Down 0.9 %

NASDAQ:QCOM traded down $1.58 during trading hours on Wednesday, hitting $172.51. The company’s stock had a trading volume of 2,278,137 shares, compared to its average volume of 9,054,071. The stock has a market capitalization of $192.52 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The stock has a fifty day moving average of $168.55 and a 200-day moving average of $182.28. QUALCOMM has a 52-week low of $104.33 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, equities analysts forecast that QUALCOMM will post 8.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on QCOM. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Robert W. Baird raised their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research report on Friday, August 2nd. Finally, Tigress Financial upped their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $208.75.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,245 shares of company stock worth $3,679,407 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

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.