China Universal Asset Management Co. Ltd. Grows Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

China Universal Asset Management Co. Ltd. raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 30.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 35,992 shares of the wireless technology company's stock after acquiring an additional 8,396 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in QUALCOMM were worth $5,529,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the 1st quarter valued at $27,000. Banque Transatlantique SA bought a new stake in shares of QUALCOMM in the 4th quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 70 shares during the last quarter. Sunbeam Capital Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of QUALCOMM in the 4th quarter valued at $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Up 1.3%

Shares of QCOM traded up $2.07 during trading hours on Tuesday, reaching $160.16. 2,430,334 shares of the stock traded hands, compared to its average volume of 8,518,172. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $211.09. The stock has a fifty day simple moving average of $151.53 and a 200 day simple moving average of $155.01. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The company has a market cap of $175.86 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 2.09 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company's revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company earned $2.44 earnings per share. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.22%. QUALCOMM's payout ratio is presently 36.25%.

Insider Buying and Selling at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the sale, the chief financial officer owned 46,446 shares of the company's stock, valued at $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 424,747 shares of company stock worth $8,402,174 over the last three months. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on QCOM. Susquehanna reduced their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. TD Cowen reduced their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Cantor Fitzgerald restated a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Loop Capital reduced their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $188.00.

About QUALCOMM

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.