QUALCOMM (NASDAQ:QCOM) PT Raised to $172.00 at Morgan Stanley

QUALCOMM (NASDAQ:QCOM) had its price target raised by Morgan Stanley from $158.00 to $172.00 in a report released on Thursday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the wireless technology company’s stock.

Several other research firms also recently commented on QCOM. StockNews.com upgraded QUALCOMM from a buy rating to a strong-buy rating in a research report on Tuesday, April 30th. KeyCorp raised their target price on QUALCOMM from $180.00 to $205.00 and gave the stock an overweight rating in a research report on Monday, April 8th. Citigroup downgraded QUALCOMM from a buy rating to a neutral rating and set a $160.00 target price for the company. in a research report on Thursday, February 1st. Evercore ISI assumed coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an in-line rating and a $177.00 price objective on the stock. Finally, Canaccord Genuity Group boosted their price objective on QUALCOMM from $152.00 to $175.00 and gave the stock a buy rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, QUALCOMM has a consensus rating of Moderate Buy and an average price target of $179.36.

QUALCOMM Price Performance

QUALCOMM stock opened at $179.64 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.88. The company has a market capitalization of $200.48 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 2.46 and a beta of 1.33. QUALCOMM has a one year low of $101.47 and a one year high of $183.19. The business has a 50 day simple moving average of $167.69 and a 200 day simple moving average of $147.08.

QUALCOMM Increases Dividend

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

Insider Activity

In related news, CAO Neil Martin sold 371 shares of the company’s 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 completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Neil Martin sold 371 shares of the company’s 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 completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold 44,260 shares of company stock valued at $7,429,728 over the last 90 days. 0.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On QUALCOMM

Several large investors have recently modified their holdings of the business. 9258 Wealth Management LLC increased its holdings in shares of QUALCOMM by 0.9% in the first quarter. 9258 Wealth Management LLC now owns 10,258 shares of the wireless technology company’s stock worth $1,737,000 after acquiring an additional 91 shares in the last quarter. Gould Asset Management LLC CA bought a new stake in shares of QUALCOMM in the first quarter worth about $226,000. WBI Investments LLC increased its holdings in shares of QUALCOMM by 50.3% in the first quarter. WBI Investments LLC now owns 13,111 shares of the wireless technology company’s stock worth $2,220,000 after acquiring an additional 4,387 shares in the last quarter. Team Hewins LLC increased its holdings in shares of QUALCOMM by 2.2% in the first quarter. Team Hewins LLC now owns 7,761 shares of the wireless technology company’s stock worth $1,314,000 after acquiring an additional 167 shares in the last quarter. Finally, Affinity Investment Advisors LLC increased its holdings in shares of QUALCOMM by 4.2% in the first quarter. Affinity Investment Advisors LLC now owns 9,997 shares of the wireless technology company’s stock worth $1,692,000 after acquiring an additional 400 shares in the last quarter. 74.35% of the stock is currently 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.