QUALCOMM (NASDAQ:QCOM) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

QUALCOMM (NASDAQ:QCOM) had its price target upped by Sanford C. Bernstein from $200.00 to $215.00 in a report published on Thursday,Benzinga reports. The firm currently has an outperform rating on the wireless technology company’s stock.

Several other equities analysts also recently commented on QCOM. JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Friday, August 2nd. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, Barclays upped their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $212.16.

QUALCOMM Trading Down 1.8 %

Shares of QCOM stock traded down $3.12 on Thursday, hitting $167.79. The stock had a trading volume of 1,942,637 shares, compared to its average volume of 9,007,596. The company’s 50 day moving average price is $168.53 and its 200-day moving average price is $182.42. QUALCOMM has a 1 year low of $122.63 and a 1 year high of $230.63. The firm has a market capitalization of $186.41 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.74 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.78.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.85 per share. 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, December 5th. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the sale, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

Institutional investors and hedge funds have recently made changes to their positions in the business. Leelyn Smith LLC purchased a new stake in shares of QUALCOMM in the first quarter valued at about $208,000. Envestnet Portfolio Solutions Inc. lifted its stake in QUALCOMM by 3.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 60,297 shares of the wireless technology company’s stock valued at $10,208,000 after buying an additional 2,018 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in QUALCOMM by 3.2% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,405 shares of the wireless technology company’s stock valued at $2,100,000 after buying an additional 384 shares during the last quarter. PFG Advisors increased its position in QUALCOMM by 6.9% during the first quarter. PFG Advisors now owns 3,453 shares of the wireless technology company’s stock worth $585,000 after buying an additional 223 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC increased its position in QUALCOMM by 289.9% during the first quarter. Zevenbergen Capital Investments LLC now owns 92,602 shares of the wireless technology company’s stock worth $15,678,000 after buying an additional 68,850 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other 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.