Morgan Stanley Increases QUALCOMM (NASDAQ:QCOM) Price Target to $172.00

QUALCOMM (NASDAQ:QCOM) had its price objective boosted by Morgan Stanley from $158.00 to $172.00 in a report published on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the wireless technology company’s stock.

Other equities research analysts also recently issued research reports about the company. TD Cowen lifted their target price on QUALCOMM from $160.00 to $170.00 and gave the company an outperform rating in a research report on Thursday, February 1st. Piper Sandler upped their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the company an overweight rating in a research report on Thursday, February 1st. Evercore ISI began coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They issued an in-line rating and a $177.00 price objective on the stock. Robert W. Baird lifted their target price on shares of QUALCOMM from $160.00 to $200.00 and gave the company an outperform rating in a report on Thursday. Finally, Rosenblatt Securities upped their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a buy rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $179.36.

QUALCOMM Trading Down 0.3 %

NASDAQ QCOM traded down $0.46 on Thursday, reaching $179.64. 10,043,912 shares of the company were exchanged, compared to its average volume of 8,171,053. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59. The business’s fifty day moving average price is $167.69 and its 200 day moving average price is $146.59. The stock has a market capitalization of $200.48 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.33. QUALCOMM has a fifty-two week low of $101.47 and a fifty-two week high of $183.19.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. Analysts forecast that QUALCOMM will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 43.01%.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the sale, the chief technology officer now directly owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the transaction, the chief technology officer now owns 253,893 shares of the company’s stock, valued at $46,208,526. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,260 shares of company stock worth $7,429,728. 0.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Financial Gravity Asset Management Inc. boosted its stake in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares during the last quarter. WFA Asset Management Corp purchased a new stake in QUALCOMM in the first quarter valued at approximately $27,000. Legacy Financial Group LLC acquired a new position in QUALCOMM during the third quarter worth approximately $29,000. CarsonAllaria Wealth Management Ltd. raised its stake in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares during the period. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of QUALCOMM in the 4th quarter valued at $32,000. Hedge funds and other 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.