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

by · The Cerbat Gem

QUALCOMM (NASDAQ:QCOM – Free Report) had its target price cut by JPMorgan Chase & Co. from $210.00 to $195.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the wireless technology company’s stock.

Several other equities analysts have also recently weighed in on QCOM. Rosenblatt Securities raised their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a report on Wednesday, July 17th. Finally, TD Cowen raised QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $207.29.

Check Out Our Latest Stock Analysis on QUALCOMM

QUALCOMM Stock Performance

QCOM opened at $165.91 on Tuesday. QUALCOMM has a 1-year low of $118.38 and a 1-year high of $230.63. The company has a market cap of $184.82 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.66 and a beta of 1.28. The company’s fifty day moving average price is $168.53 and its two-hundred day moving average price is $182.20. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 44.04%.

Insider Activity

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,981,875.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. The trade was 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 three months. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Hedge funds and other institutional investors have recently modified their holdings of the company. D Orazio & Associates Inc. lifted its position in QUALCOMM by 35.2% in the 3rd quarter. D Orazio & Associates Inc. now owns 2,883 shares of the wireless technology company’s stock worth $490,000 after buying an additional 750 shares during the last quarter. Schrum Private Wealth Management LLC boosted its stake in shares of QUALCOMM by 60.1% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 2,496 shares of the wireless technology company’s stock valued at $424,000 after purchasing an additional 937 shares in the last quarter. ICICI Prudential Asset Management Co Ltd grew its holdings in shares of QUALCOMM by 18.6% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 14,542 shares of the wireless technology company’s stock valued at $2,473,000 after purchasing an additional 2,283 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in QUALCOMM by 124.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 92,544 shares of the wireless technology company’s stock worth $15,737,000 after purchasing an additional 51,396 shares during the period. Finally, Pinnacle Financial Partners Inc lifted its stake in QUALCOMM by 2.3% in the third quarter. Pinnacle Financial Partners Inc now owns 176,484 shares of the wireless technology company’s stock worth $30,011,000 after purchasing an additional 3,942 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

About QUALCOMM

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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.

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