QUALCOMM’s (QCOM) Hold Rating Reiterated at Westpark Capital

Westpark Capital reissued their hold rating on shares of QUALCOMM (NASDAQ:QCOM) in a research report sent to investors on Tuesday morning, Marketbeat reports.

QCOM has been the topic of several other reports. Bank of America lifted their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the company a buy rating in a report on Friday, May 31st. Citigroup lifted their price target on shares of QUALCOMM from $170.00 to $200.00 and gave the company a neutral rating in a report on Monday, July 15th. Evercore ISI started coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They set an in-line rating and a $177.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an underweight rating in a report on Thursday, May 2nd. Finally, Tigress Financial lifted their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the company a buy rating in a report on Friday, June 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, QUALCOMM currently has an average rating of Moderate Buy and an average price target of $207.71.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $164.00 on Tuesday. The firm has a 50 day moving average of $201.93 and a 200-day moving average of $177.92. The stock has a market capitalization of $183.02 billion, a PE ratio of 22.04, a PEG ratio of 2.20 and a beta of 1.27. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. QUALCOMM has a 12 month low of $104.33 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.80%. On average, equities research analysts predict that QUALCOMM will post 7.84 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Transactions at QUALCOMM

In other news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the completion of the sale, the chief executive officer now directly owns 8,100 shares in the company, valued at $1,466,100. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $181.52, for a total transaction of $135,050.88. Following the transaction, the director now directly owns 54 shares of the company’s stock, valued at $9,802.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the transaction, the chief executive officer now directly owns 8,100 shares in the company, valued at $1,466,100. The disclosure for this sale can be found here. Insiders sold a total of 35,129 shares of company stock worth $6,730,436 over the last three months. 0.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fiduciary Family Office LLC boosted its stake in QUALCOMM by 17.1% during the second quarter. Fiduciary Family Office LLC now owns 7,336 shares of the wireless technology company’s stock worth $1,461,000 after acquiring an additional 1,072 shares in the last quarter. Allegheny Financial Group LTD lifted its stake in shares of QUALCOMM by 1.4% in the second quarter. Allegheny Financial Group LTD now owns 4,987 shares of the wireless technology company’s stock valued at $993,000 after buying an additional 68 shares in the last quarter. Generate Investment Management Ltd bought a new position in shares of QUALCOMM in the second quarter valued at $7,749,000. TIAA Trust National Association lifted its stake in shares of QUALCOMM by 84.5% in the second quarter. TIAA Trust National Association now owns 101,478 shares of the wireless technology company’s stock valued at $20,212,000 after buying an additional 46,479 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of QUALCOMM by 1.8% in the second quarter. Rhumbline Advisers now owns 2,292,181 shares of the wireless technology company’s stock valued at $456,556,000 after buying an additional 40,239 shares in the last quarter. 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.