Mitsubishi UFJ Asset Management Co. Ltd. Purchases 144,750 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.3% in the 4th quarter, HoldingsChannel reports. The firm owned 1,896,973 shares of the wireless technology company’s stock after buying an additional 144,750 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in QUALCOMM were worth $299,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of QCOM. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in QUALCOMM in the 4th quarter valued at $1,075,000. Aviso Wealth Management lifted its holdings in shares of QUALCOMM by 52.3% during the fourth quarter. Aviso Wealth Management now owns 1,853 shares of the wireless technology company’s stock worth $285,000 after buying an additional 636 shares in the last quarter. Heritage Wealth Advisors boosted its position in shares of QUALCOMM by 2.6% in the fourth quarter. Heritage Wealth Advisors now owns 6,952 shares of the wireless technology company’s stock valued at $1,068,000 after acquiring an additional 177 shares during the period. Borer Denton & Associates Inc. grew its stake in shares of QUALCOMM by 0.8% in the fourth quarter. Borer Denton & Associates Inc. now owns 21,154 shares of the wireless technology company’s stock valued at $3,250,000 after acquiring an additional 168 shares in the last quarter. Finally, Ausdal Financial Partners Inc. increased its position in QUALCOMM by 16.5% during the fourth quarter. Ausdal Financial Partners Inc. now owns 7,798 shares of the wireless technology company’s stock worth $1,198,000 after acquiring an additional 1,102 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the transaction, the chief financial officer now owns 63,115 shares of the company’s stock, valued at $10,716,927. The trade was a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock worth $4,685,077 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

QUALCOMM stock opened at $158.39 on Thursday. The business has a 50 day moving average of $164.47 and a 200-day moving average of $163.92. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a market capitalization of $175.18 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Analyst Ratings Changes

A number of analysts have issued reports on QCOM shares. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Barclays reduced their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Melius assumed coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Mizuho reduced their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Finally, Benchmark restated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.32.

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.