QUALCOMM (NASDAQ:QCOM) Price Target Increased to $180.00 by Analysts at Bank of America

QUALCOMM (NASDAQ:QCOM) had its target price raised by Bank of America from $173.00 to $180.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the wireless technology company’s stock.

QCOM has been the topic of several other research reports. HSBC upped their price objective on QUALCOMM from $170.00 to $190.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Evercore ISI assumed coverage on QUALCOMM in a research report on Tuesday, April 16th. They issued an in-line rating and a $177.00 price objective for the company. Piper Sandler boosted their price objective on QUALCOMM from $140.00 to $165.00 and gave the stock an overweight rating in a report on Thursday, February 1st. Barclays raised their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the company an overweight rating in a research note on Tuesday, January 16th. Finally, Robert W. Baird upped their target price on shares of QUALCOMM from $160.00 to $200.00 and gave the company an outperform rating in a research report on Thursday. 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 presently has a consensus rating of Moderate Buy and a consensus price target of $179.36.

QUALCOMM Trading Down 0.3 %

Shares of NASDAQ QCOM opened at $179.64 on Thursday. QUALCOMM has a 1-year low of $101.47 and a 1-year high of $183.19. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $167.69 and a two-hundred day moving average of $147.08. The company has a market cap of $200.48 billion, a PE ratio of 24.15, a P/E/G ratio of 2.46 and a beta of 1.33.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio is currently 43.01%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the transaction, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the transaction, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at $3,875,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,260 shares of company stock valued at $7,429,728. 0.08% of the stock is owned by corporate insiders.

Institutional Trading of QUALCOMM

Hedge funds and other institutional investors have recently made changes to their positions in the business. Grandview Asset Management LLC increased its stake in QUALCOMM by 2.3% in the 1st quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after buying an additional 62 shares during the last quarter. Tealwood Asset Management Inc. increased its position in shares of QUALCOMM by 0.6% in the first quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock valued at $1,676,000 after acquiring an additional 63 shares during the last quarter. VERITY Wealth Advisors increased its position in shares of QUALCOMM by 0.8% in the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock valued at $1,320,000 after acquiring an additional 64 shares during the last quarter. SlateStone Wealth LLC boosted its position in QUALCOMM by 1.7% during the first quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company’s stock valued at $656,000 after purchasing an additional 65 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC boosted its position in QUALCOMM by 1.2% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock valued at $831,000 after purchasing an additional 66 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.