Brokerages Set QUALCOMM Incorporated (NASDAQ:QCOM) Target Price at $186.96

QUALCOMM Incorporated (NASDAQ:QCOM) has earned an average rating of “Hold” from the twenty-eight ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $186.96.

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Evercore ISI dropped their price target on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a report on Friday, May 9th. Wells Fargo & Company cut their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. Finally, Bank of America dropped their price target on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, June 17th.

QUALCOMM Price Performance

QCOM stock opened at $158.54 on Wednesday. QUALCOMM has a 52-week low of $120.80 and a 52-week high of $211.09. The company has a fifty day moving average price of $149.44 and a 200-day moving average price of $154.84. The company has a market capitalization of $174.08 billion, a P/E ratio of 16.14, a PEG ratio of 2.04 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the firm earned $2.44 earnings per share. QUALCOMM’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities analysts expect that QUALCOMM will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were paid a dividend of $0.89 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the transaction, the chief financial officer now owns 57,728 shares of the company’s stock, valued at $7,568,140.80. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 423,464 shares of company stock valued at $8,135,164 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QUALCOMM

Institutional investors and hedge funds have recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM during the fourth quarter valued at $26,000. Banque Transatlantique SA purchased a new position in shares of QUALCOMM in the 4th quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC increased its holdings in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after buying an additional 70 shares during the period. Vermillion & White Wealth Management Group LLC increased its holdings in QUALCOMM by 122.4% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock worth $26,000 after buying an additional 93 shares during the period. Finally, WFA Asset Management Corp acquired a new position in QUALCOMM in the 1st quarter worth approximately $27,000. Institutional investors 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.