QUALCOMM (NASDAQ:QCOM) Coverage Initiated by Analysts at Melius Research

Melius Research began coverage on shares of QUALCOMM (NASDAQ:QCOM) in a research report released on Monday,Benzinga reports. The firm issued a hold rating and a $180.00 price objective on the wireless technology company’s stock.

Other analysts have also issued research reports about the stock. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Wells Fargo & Company boosted their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Loop Capital assumed coverage on QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. Benchmark restated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. Finally, KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given 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 $208.00.

QUALCOMM Stock Up 0.8 %

QCOM stock opened at $160.74 on Monday. The firm has a 50-day moving average price of $165.75 and a 200-day moving average price of $179.03. QUALCOMM has a 12 month low of $134.07 and a 12 month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $178.58 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.12%. QUALCOMM’s payout ratio is 37.82%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the transaction, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,450 shares of company stock valued at $3,395,926 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QUALCOMM

A number of large investors have recently made changes to their positions in the stock. Lantz Financial LLC purchased a new position in QUALCOMM during the 2nd quarter valued at about $234,000. Friedenthal Financial purchased a new position in QUALCOMM during the second quarter valued at approximately $51,000. ORG Partners LLC lifted its stake in QUALCOMM by 402,400.0% in the 2nd quarter. ORG Partners LLC now owns 12,075 shares of the wireless technology company’s stock worth $2,415,000 after purchasing an additional 12,072 shares in the last quarter. Key Client Fiduciary Advisors LLC increased its holdings in shares of QUALCOMM by 14.8% in the second quarter. Key Client Fiduciary Advisors LLC now owns 1,622 shares of the wireless technology company’s stock worth $323,000 after purchasing an additional 209 shares during the period. Finally, PGGM Investments raised its position in shares of QUALCOMM by 33.9% in the second quarter. PGGM Investments now owns 75,372 shares of the wireless technology company’s stock worth $15,013,000 after buying an additional 19,093 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

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.