QUALCOMM (NASDAQ:QCOM) Price Target Lowered to $195.00 at JPMorgan Chase & Co.

QUALCOMM (NASDAQ:QCOM) had its target price lowered by JPMorgan Chase & Co. from $210.00 to $195.00 in a report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the wireless technology company’s stock.

Several other brokerages have also commented on QCOM. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Citigroup decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Susquehanna decreased their price target on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a report on Monday, October 21st. Piper Sandler reissued an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Wells Fargo & Company upped their target price on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $212.16.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $170.91 on Tuesday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $190.39 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The firm has a 50 day moving average of $168.53 and a 200 day moving average of $182.15. QUALCOMM has a 52 week low of $119.85 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 39.70% and a net margin of 26.03%. The firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. On average, sell-side analysts predict that QUALCOMM will post 8.62 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 1.99%. QUALCOMM’s payout ratio is 37.82%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock worth $2,709,186 in the last 90 days. Insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Large investors have recently made changes to their positions in the company. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the 2nd quarter worth $30,000. Reston Wealth Management LLC purchased a new stake in QUALCOMM during the third quarter worth approximately $26,000. Financial Connections Group Inc. acquired a new position in QUALCOMM in the second quarter valued at approximately $32,000. Aspect Partners LLC increased its stake in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the last quarter. Finally, Planning Capital Management Corp lifted its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other 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.