Cantor Fitzgerald Reiterates “Neutral” Rating for QUALCOMM (NASDAQ:QCOM)

Cantor Fitzgerald reaffirmed their neutral rating on shares of QUALCOMM (NASDAQ:QCOM) in a research note published on Wednesday morning,Benzinga reports. They currently have a $160.00 price target on the wireless technology company’s stock.

Other analysts have also recently issued reports about the stock. Rosenblatt Securities raised their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their target price on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Finally, Evercore ISI raised their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $210.15.

QUALCOMM Trading Up 0.9 %

Shares of QCOM stock opened at $156.79 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The stock has a 50-day simple moving average of $167.82 and a 200 day simple moving average of $181.58. QUALCOMM has a fifty-two week low of $125.67 and a fifty-two week high of $230.63. The stock has a market capitalization of $174.19 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.61 and a beta of 1.28.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This trade represents a 5.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,450 shares of company stock worth $2,911,306. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. HWG Holdings LP bought a new position in shares of QUALCOMM during the 2nd quarter worth about $30,000. Reston Wealth Management LLC acquired a new position in QUALCOMM in the 3rd quarter valued at approximately $26,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter worth approximately $32,000. Aspect Partners LLC grew its holdings in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares in the last quarter. Finally, Planning Capital Management Corp increased its position in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Company Profile

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.