Tokio Marine Asset Management Co. Ltd. lowered its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 26.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,894 shares of the wireless technology company’s stock after selling 3,926 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in QUALCOMM were worth $565,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in QCOM. FMR LLC grew its position in shares of QUALCOMM by 16.5% in the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after purchasing an additional 11,387,347 shares during the last quarter. Veritas Asset Management LLP acquired a new position in shares of QUALCOMM in the second quarter valued at approximately $440,415,000. Capital International Investors grew its position in shares of QUALCOMM by 59.9% in the second quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock valued at $835,633,000 after purchasing an additional 5,671,176 shares during the last quarter. Maverick Capital Ltd. acquired a new position in shares of QUALCOMM in the second quarter valued at approximately $210,548,000. Finally, Janus Henderson Group PLC grew its position in shares of QUALCOMM by 990.9% in the second quarter. Janus Henderson Group PLC now owns 2,276,683 shares of the wireless technology company’s stock valued at $125,717,000 after purchasing an additional 2,067,991 shares during the last quarter. 76.20% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the company. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Monday, November 27th. Stifel Nicolaus cut QUALCOMM from a “buy” rating to a “hold” rating and boosted their price target for the company from $65.00 to $75.00 in a research note on Tuesday, November 28th. Sanford C. Bernstein reiterated a “hold” rating on shares of QUALCOMM in a research note on Monday, November 13th. Royal Bank of Canada boosted their price target on QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Tuesday, November 14th. Finally, ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. QUALCOMM presently has a consensus rating of “Hold” and an average target price of $66.06.
Shares of QUALCOMM, Inc. (QCOM) opened at $65.38 on Friday. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. QUALCOMM, Inc. has a 1-year low of $48.92 and a 1-year high of $69.28. The firm has a market capitalization of $96,380.00, a price-to-earnings ratio of 39.62, a P/E/G ratio of 1.86 and a beta of 1.39.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period last year, the business posted $1.28 EPS. The business’s revenue was down 3.5% compared to the same quarter last year. equities analysts anticipate that QUALCOMM, Inc. will post 3.07 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.49%. QUALCOMM’s payout ratio is currently 138.18%.
In other news, EVP Alexander H. Rogers sold 874 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $68.52, for a total transaction of $59,886.48. Following the transaction, the executive vice president now owns 12,035 shares of the company’s stock, valued at approximately $824,638.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total transaction of $521,830.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,989 shares of company stock valued at $4,678,794. Company insiders own 0.17% of the company’s stock.
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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