217,042 Shares of Qualcomm Incorporated $QCOM Bought by UG Investment Advisers Ltd.

UG Investment Advisers Ltd. purchased a new stake in shares of Qualcomm Incorporated (NASDAQ:QCOM) in the third quarter, Holdings Channel.com reports. The firm purchased 217,042 shares of the wireless technology company’s stock, valued at approximately $39,944,000. Qualcomm accounts for about 44.3% of UG Investment Advisers Ltd.’s holdings, making the stock its largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Qualcomm in the second quarter worth approximately $17,583,115,000. Bank of New York Mellon Corp bought a new position in shares of Qualcomm in the second quarter valued at approximately $1,523,930,000. Deutsche Bank AG purchased a new position in shares of Qualcomm during the second quarter valued at approximately $1,178,349,000. Amundi boosted its position in shares of Qualcomm by 94.1% during the second quarter. Amundi now owns 10,195,741 shares of the wireless technology company’s stock valued at $1,884,071,000 after buying an additional 4,942,908 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Qualcomm by 22.7% during the second quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company’s stock valued at $3,178,872,000 after buying an additional 3,179,720 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Qualcomm Stock Performance

QCOM stock opened at $177.14 on Friday. The firm has a market cap of $189.54 billion, a PE ratio of 13.95, a P/E/G ratio of 2.07 and a beta of 1.70. The company has a quick ratio of 1.14, a current ratio of 1.86 and a debt-to-equity ratio of 0.42. The business has a 50 day moving average of $178.65 and a 200-day moving average of $169.90. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92.

Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. The company had revenue of $10.44 billion during the quarter, compared to the consensus estimate of $10.12 billion. Qualcomm had a return on equity of 30.62% and a net margin of 31.60%. Qualcomm’s revenue was down 8.4% on a year-over-year basis. During the same period last year, the business posted $3.00 earnings per share. As a group, sell-side analysts expect that Qualcomm Incorporated will post 6.75 earnings per share for the current year.

Qualcomm Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Thursday, December 3rd. Qualcomm’s dividend payout ratio is 28.98%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Piper Sandler reiterated a “neutral” rating on shares of Qualcomm in a report on Thursday, November 5th. Wells Fargo & Company dropped their price objective on Qualcomm from $265.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. KeyCorp reaffirmed a “sector weight” rating on shares of Qualcomm in a report on Wednesday, September 9th. Sanford C. Bernstein reduced their target price on shares of Qualcomm from $165.00 to $155.00 and set a “market perform” rating for the company in a research note on Monday, November 2nd. Finally, Morgan Stanley reduced their target price on shares of Qualcomm from $231.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twenty-one have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $197.13.

Insider Activity

In other news, EVP Heather Ace sold 3,200 shares of Qualcomm stock in a transaction on Monday, November 9th. The stock was sold at an average price of $165.42, for a total transaction of $529,344.00. Following the sale, the executive vice president directly owned 39,379 shares in the company, valued at $6,514,074.18. The trade was a 7.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano Amon sold 10,000 shares of the business’s stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $200.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief executive officer directly owned 177,568 shares in the company, valued at $35,513,600. This trade represents a 5.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 32,520 shares of company stock worth $6,101,411. 0.05% of the stock is owned by insiders.

Latest Qualcomm News

Investors following QCOM have been watching these news items:

• Positive Sentiment: CEO Cristiano Amon defended Qualcomm’s data-center opportunity, expressing confidence in targets of $5 billion in fiscal 2027 sales and $15 billion by fiscal 2029. If achieved, the business could diversify revenue beyond smartphones. Qualcomm CEO on data-center goal
• Negative Sentiment: Despite a quarterly earnings beat, reports cited handset weakness and uncertainty around data-center growth in explaining a sharp recent selloff. Investors are also weighing customer concentration, investment needs and potential margin pressure as Qualcomm ramps its data-center business. Qualcomm selloff and uncertainty
• Negative Sentiment: Analyst coverage remains cautious: Bank of America maintained an underperform rating, while other reports point to falling earnings estimates and margin risks. A comparison also favored Silicon Motion on performance, estimates and valuation. Bank of America remains cautious

About Qualcomm

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications. Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.