UG Investment Advisers Ltd. Acquires 356,342 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

UG Investment Advisers Ltd. grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 134.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 621,486 shares of the wireless technology company's stock after buying an additional 356,342 shares during the quarter. QUALCOMM makes up 26.2% of UG Investment Advisers Ltd.'s portfolio, making the stock its 2nd largest position. UG Investment Advisers Ltd. owned 0.06% of QUALCOMM worth $95,466,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Teza Capital Management LLC acquired a new stake in QUALCOMM in the fourth quarter worth about $1,541,000. Purkiss Capital Advisors LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $303,000. Amundi raised its stake in shares of QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. First Foundation Advisors lifted its holdings in QUALCOMM by 41.2% in the fourth quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company's stock valued at $24,083,000 after buying an additional 45,769 shares during the period. Finally, Sound Income Strategies LLC boosted its stake in QUALCOMM by 42.2% in the first quarter. Sound Income Strategies LLC now owns 1,055 shares of the wireless technology company's stock valued at $162,000 after acquiring an additional 313 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Activity

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider now directly owns 22,793 shares in the company, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the transaction, the chief financial officer now owns 57,728 shares in the company, valued at approximately $7,568,140.80. The trade was a 0.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock valued at $8,135,164 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $153.63 on Friday. The firm has a market capitalization of $168.69 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 1.98 and a beta of 1.26. 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 firm's fifty day moving average price is $147.30 and its two-hundred day moving average price is $155.05. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $225.90.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. The business 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%. QUALCOMM's revenue was up 17.0% on a year-over-year basis. During the same period last year, the business posted $2.44 EPS. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed 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 an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Thursday, June 5th. QUALCOMM's payout ratio is currently 36.25%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on QCOM. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. TD Cowen dropped their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Rosenblatt Securities restated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Benchmark lowered their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Evercore ISI reduced their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, QUALCOMM presently has an average rating of "Hold" and an average price target of $190.28.

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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