Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 11.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,106,456 shares of the wireless technology company's stock after acquiring an additional 209,483 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of QUALCOMM worth $323,573,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Banque Transatlantique SA bought a new stake in QUALCOMM during the fourth quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of QUALCOMM by 70.0% during 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 buying an additional 70 shares in the last quarter. WFA Asset Management Corp bought a new stake in QUALCOMM in the 1st quarter worth approximately $27,000. Sunbeam Capital Management LLC purchased a new stake in QUALCOMM in the fourth quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the sale, the insider owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,352,355 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

Shares of QCOM stock opened at $145.84 on Thursday. The business's fifty day moving average is $155.08 and its 200 day moving average is $154.58. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The stock has a market cap of $157.36 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 2.14 and a beta of 1.23. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The firm had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the prior year, the firm earned $2.33 EPS. The company's revenue was up 10.4% compared to the same quarter last year. Research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's payout ratio is currently 34.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on QCOM shares. Sanford C. Bernstein set a $185.00 price objective on shares of QUALCOMM and gave the stock an "outperform" rating in a report on Monday, July 28th. Mizuho lowered their target price on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Rosenblatt Securities restated a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, July 31st. Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Robert W. Baird dropped their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, QUALCOMM has an average rating of "Hold" and an average price target of $181.10.

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.

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