QUALCOMM (NASDAQ:QCOM) Given New $185.00 Price Target at Barclays

QUALCOMM (NASDAQ:QCOM) had its price objective lifted by Barclays from $155.00 to $185.00 in a report released on Thursday, Benzinga reports. They currently have an overweight rating on the wireless technology company’s stock.

Other analysts also recently issued research reports about the stock. StockNews.com upgraded shares of QUALCOMM from a buy rating to a strong-buy rating in a report on Tuesday, April 30th. Wolfe Research boosted their price objective on QUALCOMM from $180.00 to $200.00 and gave the stock an outperform rating in a report on Thursday. TD Cowen increased their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company an outperform rating in a research report on Thursday, February 1st. Canaccord Genuity Group boosted their target price on QUALCOMM from $152.00 to $175.00 and gave the company a buy rating in a research note on Friday, January 19th. Finally, Morgan Stanley increased their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an equal weight rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $179.36.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $179.64 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The business’s 50 day simple moving average is $167.69 and its 200 day simple moving average is $147.08. QUALCOMM has a one year low of $101.47 and a one year high of $183.19. The stock has a market capitalization of $200.48 billion, a PE ratio of 24.15, a PEG ratio of 2.27 and a beta of 1.33.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. QUALCOMM’s payout ratio is currently 43.01%.

Insider Buying and Selling

In other news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the transaction, the chief executive officer now owns 24,300 shares of the company’s stock, valued at $3,875,850. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the transaction, the chief technology officer now directly owns 269,893 shares in the company, valued at approximately $43,018,245.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at approximately $3,875,850. The disclosure for this sale can be found here. Insiders have sold 44,260 shares of company stock valued at $7,429,728 in the last ninety days. 0.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of QCOM. Grandview Asset Management LLC grew its position in QUALCOMM by 2.3% during the 1st quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock worth $462,000 after purchasing an additional 62 shares during the period. Tealwood Asset Management Inc. raised its position in QUALCOMM by 0.6% during the first quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock valued at $1,676,000 after acquiring an additional 63 shares in the last quarter. VERITY Wealth Advisors lifted its holdings in QUALCOMM by 0.8% in the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock valued at $1,320,000 after acquiring an additional 64 shares during the period. SlateStone Wealth LLC boosted its position in QUALCOMM by 1.7% in the 1st quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company’s stock worth $656,000 after purchasing an additional 65 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC grew its stake in shares of QUALCOMM by 1.2% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock worth $831,000 after purchasing an additional 66 shares during the period. 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.