Mufg Securities Americas Inc. Makes New $2.52 Million Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Mufg Securities Americas Inc. purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,400 shares of the wireless technology company's stock, valued at approximately $2,519,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Strategies LLC lifted its holdings in QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after buying an additional 59 shares during the period. Clark Capital Management Group Inc. raised its holdings in QUALCOMM by 3.6% in the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after purchasing an additional 59 shares in the last quarter. TBH Global Asset Management LLC raised its holdings in QUALCOMM by 0.9% in the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock worth $1,083,000 after purchasing an additional 63 shares in the last quarter. PDS Planning Inc lifted its position in shares of QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after purchasing an additional 64 shares during the period. Finally, CFS Investment Advisory Services LLC increased its position in shares of QUALCOMM by 1.1% during the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company's stock valued at $929,000 after buying an additional 65 shares during the period. Institutional investors own 74.35% of the company's stock.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the business's stock in a transaction 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 of the company's stock, valued at $80,596.63. The trade was a 61.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now owns 59,778 shares in the company, valued at $9,374,385.96. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,312 shares of company stock worth $1,948,379. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on QCOM shares. Robert W. Baird lowered their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. TD Cowen lowered their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Benchmark reduced their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. restated an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $192.08.

QUALCOMM Stock Performance

QCOM stock traded down $0.11 on Friday, hitting $152.50. The company had a trading volume of 6,646,322 shares, compared to its average volume of 8,913,067. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The stock has a market cap of $167.45 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 2.01 and a beta of 1.29. The stock's 50-day simple moving average is $145.95 and its 200 day simple moving average is $157.08.

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, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. QUALCOMM's revenue was up 17.0% compared to the same quarter last year. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors 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. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.33%. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

QUALCOMM Profile

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.