Resona Asset Management Co. Ltd. Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Resona Asset Management Co. Ltd. lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 355,416 shares of the wireless technology company's stock after purchasing an additional 26,849 shares during the period. Resona Asset Management Co. Ltd.'s holdings in QUALCOMM were worth $54,548,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of QCOM. Brighton Jones LLC increased its stake in shares of QUALCOMM by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of QUALCOMM by 15.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after purchasing an additional 340 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at about $999,000. SageView Advisory Group LLC increased its stake in shares of QUALCOMM by 19.8% in the 4th quarter. SageView Advisory Group LLC now owns 3,311 shares of the wireless technology company's stock valued at $509,000 after purchasing an additional 548 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its stake in shares of QUALCOMM by 33.8% in the 4th quarter. CreativeOne Wealth LLC now owns 10,321 shares of the wireless technology company's stock valued at $1,586,000 after purchasing an additional 2,607 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Trading Up 0.3%

QCOM opened at $147.97 on Tuesday. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10. The stock has a market capitalization of $159.66 billion, a PE ratio of 14.27, a P/E/G ratio of 2.15 and a beta of 1.23. The business's 50 day moving average price is $155.10 and its 200 day moving average price is $153.89. 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 (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The firm had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the prior year, the firm posted $2.33 earnings per share. The firm's quarterly revenue was up 10.4% on a year-over-year basis. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current 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 issued a $0.89 dividend. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.4%. QUALCOMM's dividend payout ratio is currently 34.33%.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the transaction, the insider directly owned 21,193 shares in the company, valued at $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 424,099 shares of company stock worth $8,352,355. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent analyst reports. Wells Fargo & Company cut their price target on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, July 31st. Susquehanna cut their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Benchmark cut their price objective on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Loop Capital cut their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $181.10.

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.

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