QUALCOMM (NASDAQ:QCOM) Trading Up 1.9% After Dividend Announcement

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) was up 1.9% on Monday following a dividend announcement from the company. The company traded as high as $165.61 and last traded at $164.56. Approximately 8,063,912 shares changed hands during trading, an increase of 24% from the average daily volume of 6,526,932 shares. The stock had previously closed at $161.43.

The newly announced dividend which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's payout ratio is presently 37.82%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on QCOM. Citigroup dropped their price target on QUALCOMM from $200.00 to $185.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 16th. Susquehanna cut their target price on QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a research note on Wednesday, November 20th. Mizuho decreased their price target 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. KeyCorp lowered shares of QUALCOMM from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 8th. Finally, Evercore ISI increased their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has an average rating of "Moderate Buy" and an average target price of $206.57.

QUALCOMM Trading Up 1.6 %

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 $185.84 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 2.75 and a beta of 1.25. The business has a fifty day simple moving average of $158.78 and a 200 day simple moving average of $168.29.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $9.90 billion. As a group, research analysts expect that QUALCOMM Incorporated will post 9.12 EPS for the current year.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares of the company's stock, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares of the company's stock, valued at $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock valued at $4,314,649 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

Institutional investors have recently modified their holdings of the business. Nordea Investment Management AB boosted its position in QUALCOMM by 39.7% in the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock valued at $284,708,000 after buying an additional 523,244 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of QUALCOMM during the 4th quarter valued at $2,058,000. Burney Co. boosted its holdings in shares of QUALCOMM by 665.6% during the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after acquiring an additional 127,722 shares in the last quarter. Wedge Capital Management L L P NC grew its position in QUALCOMM by 17.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company's stock worth $60,264,000 after acquiring an additional 51,879 shares during the last quarter. Finally, Icon Wealth Advisors LLC increased its holdings in QUALCOMM by 123.2% in the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company's stock worth $5,643,000 after purchasing an additional 18,315 shares in the last quarter. Institutional investors and hedge funds 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.