UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.50 Billion Position in QUALCOMM Incorporated (NASDAQ:QCOM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 17.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,780,687 shares of the wireless technology company's stock after acquiring an additional 1,424,106 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.88% of QUALCOMM worth $1,502,509,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of QCOM. Waverly Advisors LLC raised its position in QUALCOMM by 42.2% during the 4th quarter. Waverly Advisors LLC now owns 37,487 shares of the wireless technology company's stock valued at $5,759,000 after purchasing an additional 11,128 shares in the last quarter. Woodline Partners LP purchased a new position in shares of QUALCOMM during the fourth quarter valued at $7,234,000. Sovereign s Capital Management LLC bought a new stake in shares of QUALCOMM in the fourth quarter valued at about $3,089,000. Sphera Management Technology Funds Ltd purchased a new stake in QUALCOMM in the fourth quarter worth about $2,117,000. Finally, Spurstone Advisory Services LLC bought a new position in QUALCOMM during the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

QCOM stock traded down $1.99 during trading on Friday, reaching $145.38. 8,991,695 shares of the stock were exchanged, compared to its average volume of 8,849,286. The stock has a 50 day simple moving average of $145.46 and a 200-day simple moving average of $156.29. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $159.63 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 earnings per share. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is currently 36.25%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on QCOM shares. Cantor Fitzgerald restated a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Rosenblatt Securities restated a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Susquehanna cut their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Robert W. Baird decreased their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, Evercore ISI lowered 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. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, QUALCOMM has a consensus rating of "Hold" and a consensus target price of $192.08.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider now directly owns 22,793 shares in the company, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $139.77, for a total value of $465,853.41. Following the sale, the chief financial officer now owns 53,112 shares of the company's stock, valued at approximately $7,423,464.24. The trade was a 5.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,568 shares of company stock valued at $1,818,305. 0.08% of the stock is owned by insiders.

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.