QUALCOMM Incorporated (NASDAQ:QCOM) Declares Quarterly Dividend of $0.85

QUALCOMM Incorporated (NASDAQ:QCOM) declared a quarterly dividend on Friday, January 17th,RTT News reports. Stockholders of record on Thursday, March 6th will be given a dividend of 0.85 per share by the wireless technology company on Thursday, March 27th. This represents a $3.40 annualized dividend and a dividend yield of 2.07%.

QUALCOMM has raised its dividend by an average of 7.2% annually over the last three years and has increased its dividend every year for the last 22 years. QUALCOMM has a payout ratio of 27.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect QUALCOMM to earn $10.50 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 32.4%.

QUALCOMM Trading Up 1.9 %

Shares of NASDAQ:QCOM opened at $164.56 on Friday. QUALCOMM has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. 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 company has a market cap of $182.83 billion, a PE ratio of 18.30, a P/E/G ratio of 2.63 and a beta of 1.25. The company’s 50-day moving average price is $158.85 and its 200 day moving average price is $169.03.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. Sell-side analysts anticipate that QUALCOMM will post 9.09 earnings per share for the current year.

Insider Transactions at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares of the company’s stock, valued at $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on QCOM. Sanford C. Bernstein lifted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Evercore ISI increased their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research note on Wednesday, November 20th. Finally, Citigroup lowered their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $206.57.

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.