QUALCOMM Incorporated (NASDAQ:QCOM) Director Sylvia Acevedo Sells 2,056 Shares of Stock

QUALCOMM Incorporated (NASDAQ:QCOM) Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now directly owns 54 shares in the company, valued at $9,623.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

QUALCOMM Trading Up 1.2 %

Shares of NASDAQ QCOM opened at $181.85 on Tuesday. The stock has a market cap of $202.94 billion, a P/E ratio of 24.44, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $183.19. The firm has a 50-day moving average of $168.19 and a 200 day moving average of $147.58.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a $0.85 dividend. 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 1.87%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is currently 43.01%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC increased its holdings in shares of QUALCOMM by 17.8% during the third quarter. Lindbrook Capital LLC now owns 4,555 shares of the wireless technology company’s stock valued at $506,000 after acquiring an additional 688 shares in the last quarter. GPS Wealth Strategies Group LLC raised its holdings in QUALCOMM by 4.7% in the third quarter. GPS Wealth Strategies Group LLC now owns 6,045 shares of the wireless technology company’s stock worth $671,000 after buying an additional 269 shares during the last quarter. Oak Asset Management LLC lifted its stake in shares of QUALCOMM by 0.5% in the third quarter. Oak Asset Management LLC now owns 66,632 shares of the wireless technology company’s stock worth $7,400,000 after buying an additional 352 shares in the last quarter. Access Financial Services Inc. increased its position in shares of QUALCOMM by 1.4% during the third quarter. Access Financial Services Inc. now owns 16,520 shares of the wireless technology company’s stock valued at $1,835,000 after acquiring an additional 225 shares in the last quarter. Finally, Calamos Wealth Management LLC raised its holdings in QUALCOMM by 12.9% in the 3rd quarter. Calamos Wealth Management LLC now owns 2,207 shares of the wireless technology company’s stock worth $245,000 after acquiring an additional 252 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Evercore ISI assumed coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 target price on shares of QUALCOMM in a research note on Thursday, May 2nd. 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. Barclays boosted their price objective on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, HSBC increased their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $179.36.

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.