QUALCOMM, Inc. to Issue Quarterly Dividend of $0.57 (QCOM)
QUALCOMM, Inc. (NASDAQ:QCOM) declared a quarterly dividend on Friday, January 12th, RTT News reports. Stockholders of record on Wednesday, February 28th will be given a dividend of 0.57 per share by the wireless technology company on Wednesday, March 21st. This represents a $2.28 annualized dividend and a dividend yield of 3.49%.
QUALCOMM has raised its dividend by an average of 11.6% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. QUALCOMM has a dividend payout ratio of 74.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect QUALCOMM to earn $3.18 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 71.7%.
QUALCOMM (NASDAQ:QCOM) traded down $0.05 during trading on Friday, hitting $65.38. The stock had a trading volume of 4,987,371 shares, compared to its average volume of 5,794,563. QUALCOMM has a one year low of $48.92 and a one year high of $69.28. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81. The firm has a market capitalization of $96,380.00, a P/E ratio of 39.62, a P/E/G ratio of 1.89 and a beta of 1.39.
Several brokerages have recently commented on QCOM. UBS Group reduced their price objective on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, November 6th. Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. Wells Fargo & Co downgraded shares of QUALCOMM from an “outperform” rating to a “market perform” rating in a research report on Monday, November 6th. Royal Bank of Canada raised shares of QUALCOMM from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $70.00 in a research report on Wednesday, November 8th. Finally, Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday, November 27th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $66.06.
In other news, EVP Michelle M. Sterling sold 7,840 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total transaction of $521,830.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alexander H. Rogers sold 874 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the sale, the executive vice president now directly owns 12,035 shares of the company’s stock, valued at $824,638.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,989 shares of company stock worth $4,678,794. Company insiders own 0.24% of the company’s stock.
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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