QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. grew its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 30.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,992 shares of the wireless technology company's stock after acquiring an additional 8,396 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in QUALCOMM were worth $5,529,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Banque Transatlantique SA purchased a new stake in QUALCOMM during the fourth quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after buying an additional 70 shares in the last quarter. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the first quarter valued at about $27,000. Sunbeam Capital Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on QCOM. Citigroup upped their price target on shares of QUALCOMM from $145.00 to $170.00 and gave the company a "neutral" rating in a report on Monday. Evercore ISI reduced their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $185.00 price target on shares of QUALCOMM in a report on Tuesday, April 29th. Finally, Loop Capital cut their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $186.39.

QUALCOMM Trading Down 0.2%

Shares of QUALCOMM stock traded down $0.26 during trading hours on Thursday, hitting $159.09. The company's stock had a trading volume of 5,671,246 shares, compared to its average volume of 8,525,695. The company has a market capitalization of $174.68 billion, a PE ratio of 16.20, a P/E/G ratio of 2.06 and a beta of 1.26. The business has a fifty day moving average of $152.00 and a 200 day moving average of $155.07. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the prior year, the firm posted $2.44 EPS. The firm's revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value 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 trade represents a 6.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,310,735 in the last quarter. Company insiders own 0.08% of the company's stock.

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.