Wolfe Research Increases QUALCOMM (NASDAQ:QCOM) Price Target to $200.00

QUALCOMM (NASDAQ:QCOM) had its price objective lifted by Wolfe Research from $180.00 to $200.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the wireless technology company’s stock.

QCOM has been the topic of several other reports. Morgan Stanley increased their target price on QUALCOMM from $158.00 to $172.00 and gave the stock an equal weight rating in a research report on Thursday. Cantor Fitzgerald increased their target price on QUALCOMM from $150.00 to $190.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Barclays increased their target price on QUALCOMM from $140.00 to $155.00 and gave the stock an overweight rating in a research report on Tuesday, January 16th. JPMorgan Chase & Co. reduced their target price on QUALCOMM from $173.00 to $170.00 and set an overweight rating on the stock in a research report on Thursday, February 1st. Finally, Susquehanna increased their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a positive rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have given 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.com, the company presently has an average rating of Moderate Buy and an average target price of $179.36.

QUALCOMM Stock Down 0.3 %

Shares of NASDAQ:QCOM opened at $179.64 on Thursday. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM has a 52-week low of $101.47 and a 52-week high of $183.19. The stock’s fifty day simple moving average is $167.69 and its 200-day simple moving average is $147.08. The company has a market capitalization of $200.48 billion, a P/E ratio of 24.15, a P/E/G ratio of 2.27 and a beta of 1.33.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 43.01%.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares in the company, valued at $46,208,526. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares in the company, valued at $46,208,526. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were 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 of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,260 shares of company stock worth $7,429,728. 0.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

Hedge funds have recently bought and sold shares of the business. Grandview Asset Management LLC lifted its holdings 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 buying an additional 62 shares during the last quarter. Tealwood Asset Management Inc. lifted its holdings in QUALCOMM by 0.6% during the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock worth $1,676,000 after buying an additional 63 shares during the last quarter. VERITY Wealth Advisors lifted its holdings in QUALCOMM by 0.8% during the 1st quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock worth $1,320,000 after buying an additional 64 shares during the last quarter. SlateStone Wealth LLC lifted its holdings in QUALCOMM by 1.7% during the 1st quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company’s stock worth $656,000 after buying an additional 65 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC lifted its holdings in 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 buying an additional 66 shares during the last quarter. Institutional investors and hedge funds 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.