China Universal Asset Management Co. Ltd. Cuts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

China Universal Asset Management Co. Ltd. lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 46.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,641 shares of the wireless technology company’s stock after selling 19,899 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in QUALCOMM were worth $3,850,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WFA Asset Management Corp purchased a new position in shares of QUALCOMM during the 1st quarter worth approximately $27,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM in the 2nd quarter valued at $30,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM during the second quarter worth $32,000. Aspect Partners LLC increased its holdings in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the last quarter. Finally, Accordant Advisory Group Inc acquired a new stake in QUALCOMM in the third quarter valued at $36,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $172.22 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The firm has a market cap of $191.85 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 1.71 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $106.18 and a 52 week high of $230.63. The firm’s 50-day simple moving average is $169.12 and its 200 day simple moving average is $182.13.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, sell-side analysts predict 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 issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is presently 44.04%.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were 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 owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,245 shares of company stock worth $3,679,407 over the last three months. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on QCOM shares. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research report on Friday, August 2nd. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Cantor Fitzgerald reduced their target price on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, Barclays boosted their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $207.92.

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.