QUALCOMM Incorporated (NASDAQ:QCOM) declared a quarterly dividend on Wednesday, October 13th, RTT News reports. Investors of record on Thursday, December 2nd will be given a dividend of 0.68 per share by the wireless technology company on Thursday, December 16th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.18%.
QUALCOMM has increased its dividend by 14.7% over the last three years and has raised its dividend annually for the last 1 consecutive years. QUALCOMM has a dividend payout ratio of 31.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect QUALCOMM to earn $8.42 per share next year, which means the company should continue to be able to cover its $2.63 annual dividend with an expected future payout ratio of 31.2%.
Shares of QUALCOMM stock opened at $125.04 on Thursday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.45 and a current ratio of 1.72. The firm has a fifty day moving average of $138.59 and a two-hundred day moving average of $137.67. QUALCOMM has a one year low of $121.05 and a one year high of $167.94. The company has a market cap of $141.05 billion, a P/E ratio of 15.63, a PEG ratio of 0.94 and a beta of 1.29.
Several equities analysts have weighed in on QCOM shares. Jefferies Financial Group started coverage on QUALCOMM in a research report on Friday, October 1st. They set a “hold” rating and a $137.00 price target for the company. Susquehanna Bancshares reissued a “hold” rating and set a $157.00 price target on shares of QUALCOMM in a research report on Thursday, July 29th. Susquehanna reiterated a “hold” rating and issued a $157.00 target price on shares of QUALCOMM in a research note on Thursday, July 29th. Cowen upped their target price on QUALCOMM from $180.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $225.00 target price (up from $200.00) on shares of QUALCOMM in a research note on Thursday, August 12th. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $167.35.
QUALCOMM declared that its board has authorized a stock repurchase program on Tuesday, October 12th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the wireless technology company to reacquire up to 7.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
A hedge fund recently raised its stake in QUALCOMM stock. Morgan Stanley lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 25.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,960,679 shares of the wireless technology company’s stock after acquiring an additional 2,630,436 shares during the period. Morgan Stanley owned 1.15% of QUALCOMM worth $1,852,471,000 as of its most recent filing with the Securities and Exchange Commission. 71.77% of the stock is currently owned by institutional investors.
QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.
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