Investing
5 'Strong Buy' Blue Chip Stocks Expected to Raise Dividends This Week
March 6, 2023 7:12 am
The current dividend yield is 1.48%, and the expected increase is from $0.32 per share to $0.38.
The $116 Mizuho price objective compares with a $92.83 consensus target and an $89.25 close for Oracle stock on Friday.
Qualcomm
This stock has traded sideways since November and could be poised to break out when things settle down. Qualcomm Inc. (NASDAQ: QCOM) engages in the development and commercialization of foundational technologies for the wireless industry worldwide.
The Qualcomm CDMA Technologies 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, application processing, multimedia and global positioning system products.
The Qualcomm Technology Licensing segment grants licenses or provides rights to use portions of its intellectual property portfolio, which include various patent rights useful in the manufacture and sale of wireless products comprising products implementing CDMA2000, WCDMA, LTE and OFDMA-based 5G standards and their derivatives.
The Qualcomm Strategic Initiatives segment invests in early-stage companies in various industries (including 5G, artificial intelligence, automotive, consumer, enterprise, cloud and Internet of Things) and investment for supporting the design and introduction of new products and services for voice and data communications, new industries and applications. It also provides development and other services and related products to U.S. government agencies and their contractors.
Qualcomm stock currently comes with a 2.43% dividend. The $0.75 per share payout is expected to grow to $0.81.
Credit Suisse recently lifted its $150 price target to $165. The consensus target of $151.67 is also well above Friday’s close at $123.60 a share.
Shares of these five top blue chip companies are rated Buy across Wall Street, and their dividends are expected to rise soon. Increasing dividends and returning capital to investors shows that the company is doing well and has the earnings and cash flow strength to increase those payouts.
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