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

Westpark Capital reissued their hold rating on shares of QUALCOMM (NASDAQ:QCOM) in a research note released on Tuesday, MarketBeat reports.

Several other research firms have also recently weighed in on QCOM. 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. KeyCorp boosted their price target on shares of QUALCOMM from $205.00 to $225.00 and gave the company an overweight rating in a report on Tuesday, July 9th. Benchmark restated a buy rating and set a $200.00 price target on shares of QUALCOMM in a report on Friday, May 3rd. Cantor Fitzgerald boosted their price target on shares of QUALCOMM from $190.00 to $215.00 and gave the company a neutral rating in a report on Tuesday, July 16th. Finally, Piper Sandler boosted their price target on shares of QUALCOMM from $165.00 to $185.00 and gave the company an overweight rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM has an average rating of Moderate Buy and an average price target of $207.71.

QUALCOMM Price Performance

NASDAQ QCOM opened at $164.00 on Tuesday. QUALCOMM has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The stock has a market capitalization of $183.02 billion, a P/E ratio of 22.04, a P/E/G ratio of 2.20 and a beta of 1.27. The business’s fifty day moving average is $201.93 and its two-hundred day moving average is $177.92.

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

QUALCOMM Dividend Announcement

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

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sylvia Acevedo sold 744 shares of the company’s stock in a transaction dated 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 approximately $9,802.08. The disclosure for this sale can be found here. Insiders sold a total of 35,129 shares of company stock valued at $6,730,436 in the last quarter. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. WFA Asset Management Corp bought a new stake in QUALCOMM in the first quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. increased its stake in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the period. DiNuzzo Private Wealth Inc. bought a new stake in QUALCOMM in the fourth quarter valued at about $32,000. Financial Connections Group Inc. bought a new stake in QUALCOMM in the second quarter valued at about $32,000. Finally, Cherry Tree Wealth Management LLC grew its stake in 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 buying an additional 115 shares during the last quarter. Institutional investors and hedge funds 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.