Mitsubishi UFJ Asset Management Co. Ltd. Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,896,973 shares of the wireless technology company's stock after purchasing an additional 144,750 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.17% of QUALCOMM worth $299,399,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Street Partners LLC grew its position in QUALCOMM by 91.9% in the 3rd quarter. Principal Street Partners LLC now owns 2,303 shares of the wireless technology company's stock valued at $392,000 after acquiring an additional 1,103 shares during the last quarter. Cadence Bank boosted its stake in shares of QUALCOMM by 1.2% during the third quarter. Cadence Bank now owns 65,385 shares of the wireless technology company's stock valued at $11,119,000 after purchasing an additional 781 shares during the period. Townsquare Capital LLC grew its holdings in shares of QUALCOMM by 11.8% in the third quarter. Townsquare Capital LLC now owns 151,650 shares of the wireless technology company's stock worth $25,788,000 after purchasing an additional 16,054 shares during the last quarter. Capital Counsel LLC NY increased its stake in QUALCOMM by 1.7% in the 3rd quarter. Capital Counsel LLC NY now owns 583,346 shares of the wireless technology company's stock worth $99,198,000 after buying an additional 9,669 shares during the period. Finally, Freedom Investment Management Inc. lifted its holdings in QUALCOMM by 11.5% during the 3rd quarter. Freedom Investment Management Inc. now owns 16,182 shares of the wireless technology company's stock valued at $2,752,000 after buying an additional 1,667 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of brokerages have recently commented on QCOM. Benchmark reaffirmed a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Mizuho reduced their price objective on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Melius started coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 price target on the stock. Finally, StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $205.32.

QUALCOMM Stock Performance

QCOM stock traded down $5.25 during trading on Friday, reaching $152.72. The company had a trading volume of 8,915,861 shares, compared to its average volume of 8,605,322. 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 Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The company has a market cap of $168.91 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The firm has a 50-day simple moving average of $164.16 and a 200-day simple moving average of $163.84.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is 36.32%.

Insider Transactions at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. The trade was a 6.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock valued at $4,685,077 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

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.