QUALCOMM (NASDAQ:QCOM) Upgraded to Buy by DZ Bank

DZ Bank upgraded shares of QUALCOMM (NASDAQ:QCOM) from a hold rating to a buy rating in a report released on Friday morning, Marketbeat.com reports. The brokerage currently has $210.00 price target on the wireless technology company’s stock.

A number of other analysts also recently issued reports on QCOM. Barclays lifted their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an overweight rating in a report on Thursday, August 1st. HSBC cut shares of QUALCOMM from a buy rating to a hold rating and set a $200.00 price objective on the stock. in a research report on Wednesday, July 17th. Piper Sandler reaffirmed an overweight rating and set a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Wolfe Research boosted their price objective on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an outperform rating in a research note on Thursday, May 2nd. Finally, Westpark Capital reissued a hold rating on shares of QUALCOMM in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $210.63.

QUALCOMM Trading Down 0.9 %

Shares of QCOM stock opened at $157.95 on Friday. The company has a 50 day moving average of $200.91 and a 200-day moving average of $178.59. The company has a quick ratio of 1.98, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM has a 12-month low of $104.33 and a 12-month high of $230.63. The firm has a market cap of $176.27 billion, a P/E ratio of 21.23, a PEG ratio of 1.99 and a beta of 1.27.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insiders Place Their Bets

In related news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the transaction, the chief executive officer now owns 8,100 shares of the company’s stock, valued at approximately $1,466,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $180.69, for a total value of $542,070.00. Following the transaction, the chief financial officer now directly owns 66,343 shares of the company’s stock, valued at approximately $11,987,516.67. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the sale, 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. In the last ninety days, insiders have sold 43,129 shares of company stock worth $8,014,436. Corporate insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the 1st quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. raised its position in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $32,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM in the 2nd quarter valued at $32,000. Finally, Cherry Tree Wealth Management LLC grew its stake in shares of QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares during the period. Institutional investors 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.