Wells Fargo & Company Boosts QUALCOMM (NASDAQ:QCOM) Price Target to $140.00

QUALCOMM (NASDAQ:QCOM) had its target price hoisted by Wells Fargo & Company from $120.00 to $140.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an underweight rating on the wireless technology company’s stock.

A number of other research firms have also commented on QCOM. Cantor Fitzgerald raised their price objective on shares of QUALCOMM from $150.00 to $190.00 and gave the company a neutral rating in a research note on Monday, April 8th. KeyCorp boosted their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an overweight rating in a research report on Monday, April 8th. Mizuho raised their price objective on shares of QUALCOMM from $160.00 to $180.00 and gave the company a buy rating in a research report on Thursday. Evercore ISI began coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They set an in-line rating and a $177.00 target price for the company. Finally, Benchmark started coverage on shares of QUALCOMM in a research report on Tuesday, April 23rd. They issued a buy rating and a $200.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $179.36.

QUALCOMM Stock Down 0.3 %

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 firm has a fifty day moving average price of $167.69 and a two-hundred day moving average price of $147.08. The firm has a market cap of $200.48 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.27 and a beta of 1.33. QUALCOMM has a 1-year low of $101.47 and a 1-year high of $183.19.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.89%. QUALCOMM’s payout ratio is currently 43.01%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares in the company, valued at approximately $43,018,245.27. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,260 shares of company stock worth $7,429,728. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently made changes to their positions in QCOM. Simon Quick Advisors LLC boosted its stake in QUALCOMM by 10.6% in the third quarter. Simon Quick Advisors LLC now owns 2,776 shares of the wireless technology company’s stock valued at $308,000 after buying an additional 265 shares in the last quarter. Legacy Financial Group LLC bought a new position in QUALCOMM in the 3rd quarter valued at approximately $29,000. NorthRock Partners LLC boosted its position in QUALCOMM by 12.5% in the third quarter. NorthRock Partners LLC now owns 4,418 shares of the wireless technology company’s stock valued at $491,000 after buying an additional 490 shares in the last quarter. Horst & Graben Wealth Management LLC grew its stake in shares of QUALCOMM by 50.7% during the third quarter. Horst & Graben Wealth Management LLC now owns 2,812 shares of the wireless technology company’s stock worth $312,000 after buying an additional 946 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its holdings in shares of QUALCOMM by 1.7% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 543,300 shares of the wireless technology company’s stock worth $60,339,000 after buying an additional 9,200 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.