Mitsubishi UFJ Trust & Banking Corp Raises Stock Position in QUALCOMM, Inc. (NASDAQ:QCOM)

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 0.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 979,123 shares of the wireless technology company’s stock after buying an additional 4,145 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of QUALCOMM worth $73,855,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of QCOM. HL Financial Services LLC lifted its holdings in shares of QUALCOMM by 0.6% in the 1st quarter. HL Financial Services LLC now owns 20,371 shares of the wireless technology company’s stock valued at $1,162,000 after acquiring an additional 128 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of QUALCOMM by 5.2% in the 2nd quarter. Lindbrook Capital LLC now owns 2,821 shares of the wireless technology company’s stock valued at $214,000 after acquiring an additional 139 shares during the last quarter. Enterprise Financial Services Corp lifted its holdings in shares of QUALCOMM by 9.9% in the 2nd quarter. Enterprise Financial Services Corp now owns 1,585 shares of the wireless technology company’s stock valued at $121,000 after acquiring an additional 143 shares during the last quarter. Harrington Investments INC lifted its holdings in shares of QUALCOMM by 1.1% in the 1st quarter. Harrington Investments INC now owns 13,751 shares of the wireless technology company’s stock valued at $784,000 after acquiring an additional 150 shares during the last quarter. Finally, Evolution Wealth Advisors LLC lifted its stake in QUALCOMM by 4.6% in the first quarter. Evolution Wealth Advisors LLC now owns 3,518 shares of the wireless technology company’s stock worth $201,000 after purchasing an additional 154 shares during the last quarter. Institutional investors and hedge funds own 79.55% of the company’s stock.

In other QUALCOMM news, SVP Erin L. Polek sold 1,478 shares of QUALCOMM stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total value of $103,992.08. Following the transaction, the senior vice president now directly owns 1,386 shares of the company’s stock, valued at $97,518.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.11% of the company’s stock.

QCOM stock traded down $3.63 during trading on Friday, hitting $73.52. 13,932,117 shares of the company’s stock traded hands, compared to its average volume of 10,871,547. The firm has a market capitalization of $93.79 billion, a P/E ratio of 23.05, a PEG ratio of 2.10 and a beta of 1.62. The business has a fifty day simple moving average of $73.95 and a two-hundred day simple moving average of $68.07. The company has a quick ratio of 1.61, a current ratio of 1.77 and a debt-to-equity ratio of 2.46. QUALCOMM, Inc. has a 1 year low of $49.10 and a 1 year high of $90.34.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.12 billion. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. QUALCOMM’s revenue was down 12.7% compared to the same quarter last year. During the same period last year, the company posted $1.01 earnings per share. On average, equities research analysts predict that QUALCOMM, Inc. will post 2.84 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.37%. The ex-dividend date is Wednesday, September 11th. QUALCOMM’s payout ratio is 77.74%.

Several analysts have issued reports on QCOM shares. Cowen reissued an “outperform” rating and issued a $80.00 price objective (down previously from $100.00) on shares of QUALCOMM in a research note on Thursday, May 23rd. BidaskClub raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Canaccord Genuity decreased their price objective on shares of QUALCOMM from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Rosenblatt Securities reissued a “buy” rating and issued a $84.00 price objective on shares of QUALCOMM in a research note on Thursday, May 2nd. Finally, Daiwa Capital Markets began coverage on shares of QUALCOMM in a research report on Thursday, July 18th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. QUALCOMM presently has a consensus rating of “Buy” and an average target price of $79.69.

About QUALCOMM

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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