Tokio Marine Asset Management Co. Ltd. Sells 5,980 Shares of QUALCOMM Incorporated (QCOM)
Tokio Marine Asset Management Co. Ltd. lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 22.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,388 shares of the wireless technology company’s stock after selling 5,980 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in QUALCOMM were worth $1,169,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the company. American National Bank increased its position in shares of QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock worth $162,000 after buying an additional 822 shares during the period. Welch Group LLC increased its position in shares of QUALCOMM by 2.3% in the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock worth $174,000 after buying an additional 69 shares during the period. Commonwealth Financial Services LLC increased its position in shares of QUALCOMM by 499.5% in the first quarter. Commonwealth Financial Services LLC now owns 3,627 shares of the wireless technology company’s stock worth $205,000 after buying an additional 3,022 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of QUALCOMM during the first quarter worth about $218,000. Finally, Schnieders Capital Management LLC purchased a new position in shares of QUALCOMM during the first quarter worth about $226,000. Institutional investors and hedge funds own 77.07% of the company’s stock.
QUALCOMM Incorporated (NASDAQ QCOM) traded up 0.71% on Wednesday, hitting $52.18. 1,087,342 shares of the company traded hands. The firm has a market capitalization of $77.02 billion, a PE ratio of 19.98 and a beta of 1.29. QUALCOMM Incorporated has a 1-year low of $51.05 and a 1-year high of $71.62. The firm’s 50 day moving average price is $53.67 and its 200 day moving average price is $55.51.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.02. The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 earnings per share. Equities research analysts predict that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be given a $0.57 dividend. The ex-dividend date is Monday, August 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.40%. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.
A number of research analysts have recently issued reports on QCOM shares. J P Morgan Chase & Co dropped their price target on shares of QUALCOMM from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 2nd. BMO Capital Markets reiterated a “market perform” rating and issued a $54.00 price objective on shares of QUALCOMM in a research note on Tuesday, May 2nd. Canaccord Genuity lowered their price objective on shares of QUALCOMM from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, May 3rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of QUALCOMM in a research note on Monday, May 15th. Finally, Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $60.62 price objective for the company in a research note on Monday, May 29th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. QUALCOMM presently has an average rating of “Hold” and an average price target of $63.96.
In other news, President Derek K. Aberle sold 22,251 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $57.59, for a total value of $1,281,435.09. Following the transaction, the president now owns 28,959 shares in the company, valued at $1,667,748.81. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,246 shares of company stock worth $2,868,825. Company insiders own 0.24% 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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