QUALCOMM, Inc. (NASDAQ:QCOM) Increases Dividend to $0.65 Per Share
QUALCOMM, Inc. (NASDAQ:QCOM) declared a quarterly dividend on Tuesday, April 21st, RTT News reports. Stockholders of record on Thursday, June 4th will be given a dividend of 0.65 per share by the wireless technology company on Thursday, June 25th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Wednesday, June 3rd. This is a boost from QUALCOMM’s previous quarterly dividend of $0.62.
QUALCOMM has a dividend payout ratio of 70.5% meaning its dividend is sufficiently covered by earnings. Analysts expect QUALCOMM to earn $5.84 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 44.5%.
NASDAQ QCOM opened at $79.73 on Tuesday. QUALCOMM has a 52 week low of $58.00 and a 52 week high of $96.17. The company has a quick ratio of 1.39, a current ratio of 1.57 and a debt-to-equity ratio of 4.42. The business’s fifty day simple moving average is $77.25 and its 200-day simple moving average is $81.64. The firm has a market cap of $90.98 billion, a PE ratio of 23.59, a P/E/G ratio of 1.43 and a beta of 1.35.
In other QUALCOMM news, CAO Erin L. Polek sold 1,646 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $79.47, for a total value of $130,807.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.12% of the stock is currently owned by corporate insiders.
A number of brokerages have recently commented on QCOM. Cowen boosted their price objective on QUALCOMM from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley boosted their price objective on QUALCOMM from $78.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Royal Bank of Canada lowered their price objective on QUALCOMM from $92.00 to $81.00 in a research report on Tuesday, March 10th. JPMorgan Chase & Co. boosted their target price on QUALCOMM from $94.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Deutsche Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Friday, March 27th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $89.77.
QUALCOMM Company Profile
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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