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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 17.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,780,687 shares of the wireless technology company's stock after buying an additional 1,424,106 shares during the quarter. 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.

Other large investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. grew its stake in shares of QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock worth $4,239,000 after purchasing an additional 4,955 shares during the period. Howard Bailey Securities LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $240,000. Greenup Street Wealth Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $2,256,000. MFA Wealth Services acquired a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $457,000. Finally, Clear Harbor Asset Management LLC grew its holdings in QUALCOMM by 28.3% during the fourth quarter. Clear Harbor Asset Management LLC now owns 14,347 shares of the wireless technology company's stock valued at $2,204,000 after purchasing an additional 3,162 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Up 0.8%

Shares of QCOM opened at $153.70 on Tuesday. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The firm has a market cap of $168.76 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The firm's 50-day simple moving average is $145.96 and its 200 day simple moving average is $156.72. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued 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 return on equity of 39.51% and a net margin of 25.94%. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same period in the prior year, the firm posted $2.44 EPS. The company's revenue for the quarter was up 17.0% on a year-over-year basis. On average, analysts forecast 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. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. 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 2.32%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the transaction, the chief financial officer now owns 57,728 shares in the company, valued at approximately $7,568,140.80. This trade represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Neil Martin sold 744 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,312 shares of company stock worth $1,948,379. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on QCOM. TD Cowen decreased their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Piper Sandler lowered their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Robert W. Baird cut their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of "Hold" and a consensus price target of $192.08.

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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