Tokio Marine Asset Management Co. Ltd. decreased its position in shares of Qualcomm Inc. (NASDAQ:QCOM) by 6.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,152 shares of the wireless technology company’s stock after selling 3,038 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Qualcomm were worth $2,205,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. CapWealth Advisors LLC raised its stake in Qualcomm by 37.8% in the first quarter. CapWealth Advisors LLC now owns 2,188 shares of the wireless technology company’s stock valued at $112,000 after buying an additional 600 shares during the last quarter. Joel Isaacson & Co. LLC raised its stake in Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock valued at $119,000 after buying an additional 103 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in Qualcomm during the second quarter valued at about $121,000. Delta Asset Management LLC TN raised its stake in Qualcomm by 12.8% in the second quarter. Delta Asset Management LLC TN now owns 2,417 shares of the wireless technology company’s stock valued at $129,000 after buying an additional 275 shares during the last quarter. Finally, Zions Bancorporation raised its stake in Qualcomm by 287.3% in the first quarter. Zions Bancorporation now owns 3,013 shares of the wireless technology company’s stock valued at $155,000 after buying an additional 2,235 shares during the last quarter. 78.05% of the stock is owned by institutional investors.
Qualcomm Inc. (NASDAQ:QCOM) traded up 0.96% during mid-day trading on Friday, hitting $68.19. The stock had a trading volume of 8,398,099 shares. Qualcomm Inc. has a one year low of $42.24 and a one year high of $70.40. The company has a 50 day moving average price of $63.68 and a 200-day moving average price of $56.84. The company has a market cap of $100.49 billion, a price-to-earnings ratio of 19.97 and a beta of 1.25.
Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.19. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The business earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the company posted $0.99 EPS. The company’s revenue was up 2.9% on a year-over-year basis. Equities analysts expect that Qualcomm Inc. will post $4.30 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 30th will be paid a dividend of $0.53 per share. The ex-dividend date is Monday, November 28th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.11%. Qualcomm’s dividend payout ratio (DPR) is 62.17%.
Several equities research analysts have recently weighed in on the company. RBC Capital Markets reiterated a “sector perform” rating and issued a $70.00 price target (up from $59.00) on shares of Qualcomm in a report on Monday, October 3rd. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $70.00 price target (up from $63.00) on shares of Qualcomm in a report on Monday, October 3rd. Royal Bank Of Canada increased their price target on Qualcomm from $59.00 to $70.00 and gave the stock a “sector perform” rating in a report on Monday, October 3rd. Vetr downgraded Qualcomm from a “buy” rating to a “hold” rating and set a $71.00 price target on the stock. in a report on Monday, October 3rd. Finally, BMO Capital Markets reiterated an “underperform” rating and issued a $53.00 price target on shares of Qualcomm in a report on Sunday, October 2nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Qualcomm currently has an average rating of “Buy” and an average target price of $63.98.
In other Qualcomm news, EVP Matthew S. Grob sold 74,000 shares of Qualcomm stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $66.63, for a total value of $4,930,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Raymond V. Dittamore sold 7,000 shares of Qualcomm stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $61.00, for a total transaction of $427,000.00. Following the completion of the sale, the director now directly owns 12,765 shares of the company’s stock, valued at $778,665. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
Qualcomm Company Profile
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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