Tokio Marine Asset Management Co. Ltd. Has $15.84 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Tokio Marine Asset Management has increased its stake in QUALCOMM by 1.8%, now owning 103,102 shares valued at approximately $15.84 million.
• QUALCOMM recently reported earnings of $2.77 EPS, exceeding analysts' expectations and showing 10.4% year-over-year revenue growth at $10.37 billion.
• The company declared a quarterly dividend of $0.89 per share, representing an annualized yield of 2.3% and with a dividend payout ratio of 34.33%.

Tokio Marine Asset Management Co. Ltd. grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 103,102 shares of the wireless technology company's stock after acquiring an additional 1,848 shares during the quarter. Tokio Marine Asset Management Co. Ltd.'s holdings in QUALCOMM were worth $15,837,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd boosted its position in QUALCOMM by 565.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock worth $19,098,000 after acquiring an additional 105,631 shares during the last quarter. PFG Advisors boosted its position in QUALCOMM by 8.0% during the 1st quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock worth $663,000 after acquiring an additional 321 shares during the last quarter. Teza Capital Management LLC acquired a new position in QUALCOMM during the 4th quarter worth approximately $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of QUALCOMM by 3.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock valued at $28,979,000 after buying an additional 6,017 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of QUALCOMM by 12.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company's stock valued at $203,904,000 after buying an additional 145,509 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Activity at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the sale, the insider directly owned 21,193 shares in the company, valued at $3,102,655.20. This trade represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock valued at $8,352,355 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on QCOM shares. Robert W. Baird cut their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Evercore ISI cut their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Sanford C. Bernstein set a $185.00 price target on QUALCOMM and gave the company an "outperform" rating in a research note on Monday, July 28th. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Finally, Susquehanna lowered their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $181.10.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded up $2.86 during mid-day trading on Wednesday, reaching $156.59. The company had a trading volume of 7,098,897 shares, compared to its average volume of 8,781,794. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10. The firm has a market cap of $168.96 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 2.24 and a beta of 1.23. The business's 50-day simple moving average is $155.35 and its 200 day simple moving average is $153.91.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.06. The business 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%. QUALCOMM's revenue was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $2.33 earnings per share. On average, research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.3%. QUALCOMM's dividend payout ratio (DPR) is 34.33%.

About QUALCOMM

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.