QUALCOMM Incorporated (NASDAQ:QCOM) Announces $0.85 Quarterly Dividend

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) announced a quarterly dividend on Friday, January 17th,RTT News reports. Stockholders of record on Thursday, March 6th will be given a dividend of 0.85 per share by the wireless technology company on Thursday, March 27th. This represents a $3.40 annualized dividend and a dividend yield of 2.07%.

QUALCOMM has raised its dividend by an average of 7.2% annually over the last three years and has increased its dividend every year for the last 22 years. QUALCOMM has a dividend payout ratio of 27.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect QUALCOMM to earn $10.50 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 32.4%.

QUALCOMM Trading Up 1.9 %

NASDAQ QCOM traded up $3.13 during mid-day trading on Friday, reaching $164.56. 8,063,912 shares of the stock were exchanged, compared to its average volume of 7,168,905. The business's fifty day simple moving average is $158.98 and its 200 day simple moving average is $169.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock has a market capitalization of $182.83 billion, a PE ratio of 18.30, a PEG ratio of 2.63 and a beta of 1.25. QUALCOMM has a 1-year low of $139.26 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $9.90 billion. On average, research analysts anticipate that QUALCOMM will post 9.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Loop Capital began coverage on QUALCOMM in a research note on Monday, November 11th. They issued a "hold" rating and a $180.00 price target on the stock. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 2nd. Susquehanna decreased their target price on QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a research report on Wednesday, November 20th. KeyCorp lowered QUALCOMM from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 8th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $206.57.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares of the company's stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now owns 12,007 shares of the company's stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock valued at $4,314,649 in the last quarter. Company insiders own 0.08% of the company's stock.

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.