Mitsubishi UFJ Asset Management UK Ltd. Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,000 shares of the wireless technology company’s stock, valued at approximately $1,360,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the 1st quarter valued at about $27,000. HWG Holdings LP acquired a new stake in QUALCOMM during the 2nd quarter valued at approximately $30,000. Financial Connections Group Inc. bought a new position in QUALCOMM during the 2nd quarter worth approximately $32,000. Aspect Partners LLC lifted its position in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares during the period. Finally, Richardson Capital Management LLC bought a new stake in shares of QUALCOMM in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on QCOM. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft upped their target price on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Cantor Fitzgerald dropped their price target on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Barclays boosted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $208.75.

Insider Activity at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the sale, the insider now directly owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,245 shares of company stock valued at $3,679,407 over the last 90 days. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $0.18 during trading on Friday, hitting $170.92. The company’s stock had a trading volume of 6,432,721 shares, compared to its average volume of 9,047,298. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The company has a market cap of $190.40 billion, a PE ratio of 22.14, a P/E/G ratio of 1.79 and a beta of 1.28. The business has a fifty day moving average of $169.11 and a 200-day moving average of $182.12. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. As a group, research analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 1.99%. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

QUALCOMM Company 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.