Resona Asset Management Co. Ltd. Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Resona Asset Management Co. Ltd. acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 328,567 shares of the wireless technology company’s stock, valued at approximately $50,639,000.

Other institutional investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM during the 4th quarter valued at $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM during the fourth quarter worth about $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM in the fourth quarter worth about $29,000. CoreFirst Bank & Trust bought a new position in QUALCOMM during the 4th quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $127.46 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm’s 50-day moving average price is $161.74 and its 200-day moving average price is $163.13. QUALCOMM Incorporated has a 52-week low of $126.68 and a 52-week high of $230.63. The company has a market cap of $140.97 billion, a PE ratio of 13.62, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.67%. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insider Activity

In other news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 in the last quarter. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Melius started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Mizuho dropped their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Piper Sandler reduced their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Company 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.