QUALCOMM Incorporated (NASDAQ:QCOM) Declares Dividend Increase - $0.89 Per Share

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) announced a quarterly dividend on Monday, April 21st, Wall Street Journal reports. Investors of record on Thursday, June 5th will be paid a dividend of 0.89 per share by the wireless technology company on Thursday, June 26th. This represents a $3.56 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Thursday, June 5th. This is a 4.7% increase from QUALCOMM's previous quarterly dividend of $0.85.

QUALCOMM has raised its dividend payment by an average of 7.2% per year over the last three years and has raised its dividend every year for the last 22 years. QUALCOMM has a payout ratio of 27.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect QUALCOMM to earn $9.86 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 34.5%.

QUALCOMM Trading Up 2.3 %

Shares of QCOM stock traded up $3.17 on Wednesday, reaching $141.91. 4,014,400 shares of the stock were exchanged, compared to its average volume of 8,855,411. The stock has a market cap of $156.95 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $151.75 and a two-hundred day moving average of $159.90. QUALCOMM has a 1-year low of $120.80 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, research analysts anticipate that QUALCOMM will post 9.39 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on QCOM shares. Benchmark restated a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Piper Sandler decreased their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Mizuho lowered their target price on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. TD Cowen dropped their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $201.21.

Insider Activity

In related news, CAO Neil Martin sold 744 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,666 shares of company stock worth $5,047,052. Company insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On QUALCOMM

A hedge fund recently raised its stake in QUALCOMM stock. Brighton Jones LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 116.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,356 shares of the wireless technology company's stock after purchasing an additional 9,343 shares during the period. Brighton Jones LLC's holdings in QUALCOMM were worth $2,666,000 as of its most recent filing with the SEC. 74.35% of the stock is owned by institutional investors.

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.