QUALCOMM Incorporated (QCOM) to Issue Quarterly Dividend of $0.85 on December 19th

QUALCOMM Incorporated (NASDAQ:QCOM) declared a quarterly dividend on Monday, October 7th,RTT News reports. Stockholders of record on Thursday, December 5th will be paid a dividend of 0.85 per share by the wireless technology company on Thursday, December 19th. This represents a $3.40 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Thursday, December 5th.

QUALCOMM has raised its dividend by an average of 7.0% annually over the last three years and has increased its dividend annually for the last 22 consecutive years. QUALCOMM has a payout ratio of 30.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect QUALCOMM to earn $10.37 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 32.8%.

QUALCOMM Stock Up 2.8 %

QUALCOMM stock opened at $163.03 on Tuesday. 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 has a twelve month low of $128.03 and a twelve month high of $230.63. The firm has a market cap of $181.13 billion, a P/E ratio of 18.13, a P/E/G ratio of 2.67 and a beta of 1.25. The business has a fifty day moving average of $166.64 and a two-hundred day moving average of $180.58.

Insider Activity at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 3.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the business’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 value of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,450 shares of company stock valued at $2,911,306. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research analyst reports. Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Evercore ISI lifted their price target 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. Wells Fargo & Company boosted their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Susquehanna cut their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Finally, Sanford C. Bernstein increased their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $210.15.

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.