Company Update (NASDAQ:QCOM): Qualcomm Hikes Its Dividend, Stock Climbs (QCOM)

[at Investopedia] – The confidence implied in Qualcomm’s dividend increase suggests Qualcomm is not worried about cash position. Read more on this. QUALCOMM Incorporated (QCOM) , valued at $75.84B, started the session at $51.05. Looking at today’s market, QCOM one day range is $50.21 to $51.10 with a trailing 52-week range being $42.24 to $71.32. QCOM shares are currently priced at 12.41x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 12.70x forward p/e ratio. And for passive income investors, the company pays shareholders $2.12 per share annually in dividends, yielding 4.19%. According to a consensus of 26 analysts, the earnings estimate of $0.96 per share would be $0.44 worse than the year-ago quarter and a $0.05 sequential decrease. The full-year EPS estimate is $4.11 which would be a $0.55 setback than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.33 Billion. If realized, that would be a 22.64% decrease over the year-ago quarter. Recently, Barclays downgraded QCOM from Overweight to Equal Weight (Mar 28, 2016). Previously, Bernstein upgraded QCOM from Mkt Perform to Outperform. Investors should keep in mind is that the average price target is $56.66, which is 10.99% above where the stock opened this morning. See more in (NASDAQ:QCOM) Similar Articles: Stock Update: Qualcomm Incorporated (NASDAQ:QCOM) – Will Qualcomm Lose Out on Apple’s iPhone? (QCOM, AAPL) Company Update: Qualcomm Incorporated (NASDAQ:QCOM) – Has Qualcomm Become a Value Stock? (QCOM) Market Update: Qualcomm Incorporated (NASDAQ:QCOM) – Here’s Why Qualcomm (QCOM) Stock is Down Today