Norinchukin Bank The Purchases 25,877 Shares of QUALCOMM Incorporated $QCOM

Key Points

• Norinchukin Bank increased its stake in QUALCOMM by 43.7%, acquiring an additional 25,877 shares, bringing its total holdings to 85,116 shares valued at approximately $13.08 million.
• The latest quarterly earnings report revealed QUALCOMM's earnings per share (EPS) of $2.77, exceeding analysts' expectations of $2.71, with a revenue of $10.37 billion.
• QUALCOMM has announced a quarterly dividend of $0.89 per share, scheduled for payment on September 25th, 2023, which translates to an annualized yield of 2.3%.

Norinchukin Bank The grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 43.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 85,116 shares of the wireless technology company's stock after acquiring an additional 25,877 shares during the quarter. Norinchukin Bank The's holdings in QUALCOMM were worth $13,075,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Eagle Strategies LLC boosted its position in shares of QUALCOMM by 4.3% during the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after buying an additional 59 shares during the period. Clark Capital Management Group Inc. increased its stake in QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after buying an additional 59 shares during the period. Westwood Holdings Group Inc. lifted its holdings in QUALCOMM by 2.1% during the 4th quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company's stock worth $509,000 after buying an additional 69 shares in the last quarter. Collaborative Wealth Managment Inc. boosted its position in QUALCOMM by 5.1% in the 1st quarter. Collaborative Wealth Managment Inc. now owns 1,412 shares of the wireless technology company's stock valued at $217,000 after buying an additional 69 shares during the period. Finally, Thoroughbred Financial Services LLC boosted its position in QUALCOMM by 0.3% in the 1st quarter. Thoroughbred Financial Services LLC now owns 25,254 shares of the wireless technology company's stock valued at $3,879,000 after buying an additional 69 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $148.10, for a total value of $493,617.30. Following the sale, the chief financial officer directly owned 43,207 shares of the company's stock, valued at approximately $6,398,956.70. This trade represents a 7.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 424,099 shares of company stock worth $8,352,355. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Down 0.5%

QUALCOMM stock opened at $155.44 on Thursday. The stock has a market cap of $167.72 billion, a PE ratio of 14.99, a P/E/G ratio of 2.28 and a beta of 1.23. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.10. The stock has a 50-day moving average price of $155.66 and a 200 day moving average price of $153.41.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. The company had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The business's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.33 EPS. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Thursday, September 4th. QUALCOMM's payout ratio is presently 34.33%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on QCOM. Robert W. Baird reduced their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Citigroup reiterated a "hold" rating on shares of QUALCOMM in a report on Thursday, July 17th. Mizuho dropped their price objective on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. raised their price target on QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Eleven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $181.10.

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.

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