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

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

QUALCOMM has raised its dividend payment by an average of 7.2% per year over the last three years and has raised its dividend every year for the last 22 years. QUALCOMM has a payout ratio of 27.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

QCOM stock opened at $164.56 on Friday. The stock has a market capitalization of $182.83 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The stock’s fifty day simple moving average is $158.98 and its 200-day simple moving average is $169.28. QUALCOMM has a 52-week low of $139.26 and a 52-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.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Equities research analysts expect that QUALCOMM will post 9.09 EPS for the current year.

Analyst Ratings Changes

QCOM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Evercore ISI boosted their price target on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Melius assumed coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Wednesday, November 20th. Finally, Morgan Stanley cut their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. 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 assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Activity

In related news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

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.