QUALCOMM (NASDAQ:QCOM) Given New $204.00 Price Target at Morgan Stanley

QUALCOMM (NASDAQ:QCOM) had its target price trimmed by Morgan Stanley from $207.00 to $204.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an equal weight rating on the wireless technology company’s stock.

Other analysts also recently issued reports about the stock. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Evercore ISI lifted their price target on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday. Robert W. Baird upped their price objective on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.16.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $170.91 on Thursday. QUALCOMM has a 12-month low of $119.85 and a 12-month high of $230.63. The company has a market cap of $190.39 billion, a PE ratio of 19.01, a P/E/G ratio of 1.76 and a beta of 1.28. The stock has a 50 day simple moving average of $168.53 and a 200-day simple moving average of $182.15. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 39.70% and a net margin of 26.03%. On average, equities research analysts forecast that QUALCOMM will post 8.62 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.99%. QUALCOMM’s dividend payout ratio is 37.82%.

Insider Buying and Selling

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,146 shares of company stock valued at $2,709,186. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

A number of institutional investors have recently bought and sold shares of QCOM. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM during the 3rd quarter worth about $26,000. HWG Holdings LP acquired a new position in QUALCOMM in the second quarter worth approximately $30,000. Financial Connections Group Inc. acquired a new stake in QUALCOMM in the second quarter valued at approximately $32,000. Planning Capital Management Corp grew its position in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares in the last quarter. Finally, Aspect Partners LLC increased its stake in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds 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.